These steps are required to set up individual loan sub-accounts when migrating to GL2 from another accounting system.
| 1 | Follow the steps to set up interest first - 15728785 |
| 2 | Set up each loan sub-account with historical data: - Go to Accounts and select the first loan sub-account.
- Click on the Interest tab and complete the following fields:
- Last Accrual Date:
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Set to the date that interest was last accrued to. That amount of interest should have come through in the opening balances- value only needs to be set if you are moving interest transactions to a new account, where at least one interest accrual transaction has been calculated. For new accounts or running interest calculations for the first time in new ledgers, leave this value blank.
- When the first period is closed and interest is calculated, it will calculate from this date.
- The system will update this date automatically after each period close is done.
- Drawdown date: Information only - date that the funds were available to the employee.
- Click Save.
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