Support ›› Manual ›› Credit Management ›› Operations ›› Recurring Procedures ››
Carry Forwards Management.
Use this sub-module to manage carry forwards on customers accounts.
These are charges that are not paid upfront upon loan disbursement but are paid afterwards during loan recovery.
NOTE : This operation is only applicable for loan products.
The loan products to be affected in this case must have an attached indefinite charge whose recovery mode is carry forward, and a mapped G/L Account for settlement.
Refer to Indefinite Charges for more details.
To access this window, click :Credit Management - > Operations - > Recurring Procedure - > Carry Forwards Management.
The following screen will open up :
Carry Forwards Management Fig 1
On the above screen, look up the target beneficiary account and pick the appropriate from the list
Carry Forwards Management Fig 2
All the other details will be populated to the respective fields when the customer account is selected.
On the Indefinite Charges window, check the attached charge :
Carry Forwards Management Fig 3
Switch to the management window, and the following window will be presented :
Carry Forwards Management Fig 4
Beneficiary G/L Account - Select the beneficiary g/l accordingly (if charge split applies)
The g/l will be presented as below :
Carry Forwards Management Fig 5
NOTE : The G/L Account is only available if the loan has a carry forward charge recovery attached to it and a g/l mapped.
Contrary to this, No g/l will be available and on updating, the following error will be presented :
Adjustment Type - Select the correct adjustment type from the drop down :
Carry Forwards Management Fig 6
Amount - Input the correct amount in the amount field
Reference - Input an appropriate reference with regard to the carry forward management
Click update to effect the operation.
On successful completion you will get a pop up message confirming that the operation was successful.
The carry forwards are immediately loaded onto the customer's account and the statement is viewed on the carry forwards statement pane ;
Carry Forwards Management Fig 7
The same can also be viewed from the customer's statements.
The running balance will therefore be retained till it's paid off.
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