Loan Transactions Posting to Incorrect GL
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We have noticed that loan transactions are posting to the wrong GL account. Why would they do that?
When this happens, you will want to review how you have configured your Loan System Settings. The way the system determines which General Ledger account to use is:
- It looks at the Loan System Settings GL 1 and GL2 tabs FIRST. If GL accounts are entered here, those are the accounts used
- If no GL accounts are configured on these tabs, the system next looks at the Loan Type and Rate Maintenance screen for the appropriate GL accounts
- The exception for this rule is the Loan GL Account. If an account has been entered for the loan in Loan Add/Maintenance, it will override anything entered in Loan Type and Rate Maintenance but will NOT override anything configured on the GL tab within Loan System Settings
