Ideas for the Mambu Banking Engine

Daily/ monthly journal entries for fee amortisation using straight-line method

What: Allow for daily/ end of month fee amortisation recognition, when the straight-line method is used. 
 
Why: From the accounting perspective, it’s the best practice and according to generally accepted accounting standards to recognise income as it’s earned. Since fee income is earned each day that a loan account is Active/ In arrears, income earned with fee application should be shown in the accounting statements at any point in time/ as of the calendar month end (depending on the approach).
  • Dorota Nosal
  • Dec 17 2018
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