2.11.2 Specifying Transfer GLs for Status Change

You may have a GL structure under which loans in Normal status are reported, while those associated with other statuses (for example, status pertaining to defaulted and future schedules) are reported under different GLs, depending on their status. For each component, you should indicate the GLs from and to which balances should be transferred when the loan moves from one status to another.

Specify the User ID and Password, and login to Homepage.

From the Homepage, navigate to Status Maintenance screen.

1. From the Status Maintenance screen, click GL.
   The Transfer GL screen is displayed.

   Figure 2-12 Transfer GL

   
   

   
   Description of "Figure 2-12 Transfer GL"

   
   
2. You can capture below details in this screen. For information on fields, refer to the field description table.

   Table 2-15 Transfer GL Details

   Fields	Description
   Accounting Role	Select the accounting role whose balance is to be transferred to the GL you specify.
   Transfer GL	Select the GL to which the balance should be transferred.
   Description	Select a description here.
   Reversal GL	You have to indicate the GLs from and to which balances should move during a status movement. For interest income components, you have two options for transferring balances during a forward status movement: Debit the Interest Income GL maintained for a particular status and credit the Interest Income GL for the next status. Post the Debit entry into a Reversal GL instead of posting it into the Interest Income GL maintained for the previous status. You can select the latter option by specifying Reversal GLs against the respective interest income components (accounting roles). If you do not specify Reversal GL against a particular interest income component, the former option defaults for that component.
   Trf Amt	For an income/expense account, the existing balance in the role (as on the date of status change) is transferred to the specified GL only if you check this box. The box is checked by default for every income/expense role-GL combination that you specify.
   Transfer at Historic Rate	For all Asset or liability GLs with internal GL types as Contract, you can choose to transfer the balance at historic rate for each accounting role. If you enable this option, the system takes the existing LCY balance without further computation. If the option is left unchecked, the LCY equivalent of the FCY amount being transferred is recomputed based on the current exchange rate from the currency rates maintenance. For all the loan contracts, you can modify this option only if you specified Transfer at Historic Rate in the Product Preferences screen.