12.5 Accounting Entries for Tax Components
- Events for which tax is collected are FLIQ for a fee component tax (Facility, Tranche, Drawdown) and LIQD for an interest component tax (Drawdown).
- For a Borrower Product, the following accounting entries are expected to be added to the events associated with the tax components.
Table 12-101 Accounting Entries
Accounting Role | Amount Tags | Dr/Cr |
---|---|---|
Customer | TaxComponent_ AMT | Dr |
TaxComponent_ PAY | TaxComponent_ AMT | Cr |
For a Participant Product, the following accounting entries are expected to be added to the events associated with the tax components.
Table 12-102 Accounting Entries
Accounting Role | Amount Tags | Dr/Cr |
---|---|---|
TaxComponent_ PAY | TaxComponent_ AMT | Dr |
Customer | TaxComponent_ AMT | Cr |
For an OL Product mapped to LB product, the following accounting entries are expected to be added to the events associated with the tax components.
Table 12-103 Accounting Entries
Accounting Role | Amount Tags | Dr/Cr |
---|---|---|
Customer | TaxComponent_ AMT | Dr |
TaxComponent_ PAY | TaxComponent_ AMT | Cr |
Parent topic: Appendix A – Events, Advices and Accounting Entries