Ideas for the Mambu App

Interest accrual GL entries posted daily/monthly on a loan account level

What: Interest Accrual GL entries posted per each loan account (as opposed to an aggregate amount for all accounts per product per branch which is the current behaviour).

Why: To allow for a more straightforward extract of interest accrual GL entries to the accounting system, which would help with reporting and reconciliations.

  • Dorota Nosal
  • Jan 17 2019
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  • Przemysław Sroka commented
    27 Jan 21:36

    This would greatly help with multiple specific scenarios. E.g.

    • We would be also able to generate a Trial Balance report on a loan level for any day in the past.
    • We could properly allocate accrued interest when a loan is moved between branches between due-dates

    Note that proper implementation of this mechanism would require detailed analysis of situations like backdated operations. Such operations could impact accrued interest history.

    Mambu should carefully implement this functionality to avoid performance issues related to the massive amount of Journal Entries.