Accruals

In Accrual  Accounting there are two types:

1) Accrual (Upfront): If you enable this and make the entries(as shown in the below  table)  while defining the loan product, Accrual entries are passed at the time of disbursal of the loan to the Client or Group. 

2) Accrual (Periodic):If you enable this and make the entries while defining the loan product, either accrual can be done with any periodicity or can be done manually. To run Periodicity of Accrual 

•    Go to Admin >> System >> Scheduler Jobs to see the following window
  
  
• Check the boxes for 'Add Accrual Transactions' and 'Add Periodic Accrual Transactions' and at the bottom of the page click on 'Run Selected Jobs' and 'Refresh' button. 
  
  

Once the loan product is defined with Accrual Accounting(periodic), ( Click Here to see Accounting Fields for loan product)

• Create a Loan Account for a Client/Group with the loan product having Accrual Accounting. (Click Here to see How to create Loan Account)
• Make few transactions(like Repayments)
• Then go to the Accounting >> Accruals to see the following window:
  
  
  
  
• Finally, execute Periodic Accrual Accounting till specified date in order to affect all the accrual accounts (ex: Interest Receivable,  Fees Receivable, etc) .
• In order to see entries in accrual accounts, Go to Accounting >> Search Journal Entries to see the following window.
  
  
• As shown above, select the appropriate filters and duration and then click on 'Search' button to see the accrual transactions happened during that time.