Download Core Entities Version-1.0 9NT1399

Interest liquidated for a term deposit can be handled in two ways:
•
If a customer account for liquidation of interest is specified, interest is moved to the
account during each liquidation event
•
You can opt to move the interest to an ‘Unclaimed Interest GL’. When claimed, the
interest can be paid out of this GL
Similarly, on maturity, the principal can be moved to specified Principal Liquidation Account, if
specified, or to an Unclaimed Principal GL.
Note the following:
•
If you select the Move to Unclaimed GL option, this specification takes precedence. That
is, on maturity, the funds will be moved directly to the respective Unclaimed GLs even if
customer accounts for the principal and interest have been maintained.
•
The Unclaimed Interest and Principal GLs are specified while maintaining an Interest and
Charges (IC) Deposit Type product. The Accounting Roles for the GLs are
‘INT_UNCLAIMED’ and ‘PRN_UNCLAIMED’ respectively. When maintaining an ICDeposit type product, you have to map these Accounting Roles to the appropriate GLs
maintained at your bank.
4.2.4 Maintaining TD Paying Parameters for Account
In case you have specified that the TD Payin be done by GL, you need to maintain the GL details
through the TD Payin Parameters screen. You can also invoke this screen by typing ‘STDTDPAY’
in the field at the top right corner of the Application tool bar and clicking the adjoining arrow
button.
To link appropriate GLs in case the pay in option chosen is pay in by GL, you need to maintain
the following details:
•
Branch Code - In this field, enter the branch ID for which you want to maintain the GL
4-7