Before Using the Accounting Module
To use the Accounting module, you need to go through the following steps:
- Setup or import your Chart of Accounts . After doing this you'll be ready for enabling the accounting in every product.
Enabling Accounting for Loans and Deposits
When you create a new loan under Administration > Loan Products/Deposits Products you can choose whether or not to enable accounting for that product and between the two different methodologies supported - Accruals or Cash.
If you enable accounting, you will then have to setup the accounting rules for each transaction before saving the product.
After that moment all the transactions under that product will be automatically logged in Accounting.