Issue Type: Improvement Improvement
Assignee: Unassigned
Attachments: Mifos Individual Lending.png
Components: Reference Client App
Created: 01/May/13 12:03 PM
Description:

Navigate to the accounting section of Create/View Loan products (Administration-> Organization - > Add loan Products -> Accounting)

Various account heads would show up when "Cash" or "Accrual" accounting are selected, add the following verbiage (with tooltips for them)

Fund Source: An asset account (typically Bank or Cash) that is debited during repayments/payments and credited during disbursals

Loan Portfolio: An asset account that is debited during disbursement and credited during principal repayment/write-off

Interest Receivable:(used only in accrual accounting) An asset account that is debited when interest is "applied" and credited when Interest is "Paid"

Fee Receivable: (used only in accrual accounting) An asset account that is debited when a fee becomes is "applied" and credited when a fee is "Paid"

Penalty Receivable: (used only in accrual accounting) An asset account that is debited when a penalty is "applied" and credited when the penalty is paid

Income from Interest: An income account that is credited during interest payment

Income from Fee: An income account that is credited during fee payment

Income from Penalty: An income account that is credit during penalty payment

Losses written off: An expense account that is debited on principal write-off (also debited in the events of interest, fee and penalty write-off in case of accrual based accounting)

(Will clean up the verbiage later)

Project: Mifos X
Labels: introductory volunteer
Priority: Minor Minor
Reporter: Vishwas Babu A J
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