7.10 Triggering the Year-end Batch Process for Collecting Contract-Wise Data

This topic describes the batch process for Collecting Contract-Wise Data.

The year-end batch process can be triggered to collect data pertaining to the unrealized income booked for each contract during the year. You will be allowed to trigger this process only if you have enabled the Track PY PnL Adjustment option for your branch through the Preferences section of the Branch Parameters screen. During liquidation the information that is collected using the batch process is used to post adjustment entries to the previous year adjustment GL.

You must ensure that you execute this batch process prior to executing the Year-end P and L balance transfer batch. The balances pertaining to the unrealized income booked for each contract during the year will be stored at the Contract, Component and Status level. If a contract spans over multiple years, the accrual balances will reflect the total accrual balance for all previous years.

For example, the status of two contracts entered in the System is as follows:

Contract Ref Number	Component	Amount accrued after liquidation
C1	LDML-INT	USD 100
C2	LDML-INT	USD 100

During the next year, C1 is liquidated and C2 is not liquidated. After liquidation, C1 has accrued USD 50 and C2 has accrued USD 100.

As a result, the details reflected after running the year-end data collection batch will be as follows.

Contract Ref Number	Component	Amount accrued after liquidation
C1	LDML-INT	USD 50
C2	LDML-INT	USD 200

While liquidating a contract/schedule the system liquidates the unrealized accruals for the previous year before liquidating the unrealized accruals for the current year.

For discounted Murabaha MM contracts, the transfer of balance from the unrealized GL to the realized income/expense GL is performed only during maturity of the contract.