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These steps are required to set up individual loan sub-accounts when migrating to GL2 from another accounting system.


1Follow the steps to set up interest first - 15728785
2

Set up each loan sub-account with historical data:

  1. Go to Accounts and select the first loan sub-account.
  2. Click on the Interest tab and complete the following fields:
    1. Last Accrual Date: Set this to the date that interest was last accrued to. That amount of interest should have come through in the opening balances.
      1. When the first period is closed and interest is calculated, it will calculate from this date.
      2. The system will update this date automatically after each period close is done.
    2. Drawdown date: Information only - date that the funds were available to the employee.
    3. Click Save.
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