Accrual entry
You can use the CL Loan accrual accounting system by enabling accrual entry options in the lending product. For contracts based on such products, you can record the accrual amount that has been accounted for, and also the next accrual entry date for creating the accrual entry. CL Loan provides the Accrual Entry batch job which processes these contracts to create the accrual entries. For more information on accruals, refer to section Accruals in the CL Loan User Guide.
If you are upgrading to CL Loan 2.500x, you must add the following fields to display them in the product and contract details page:
Add the Accrual Entry Frequency picklist to all the page layouts in the Lending Product object. This has the values Daily and Month End.
Add the following fields to the page layouts of the CL Contract object:
- Accrual Amount Accounted For
- Next Accrual Entry Date