Line of Credit Type Maintenance

Overview of IL800

Line of Credit Type Maintenance indicates which general-ledger accounts are affected by different types of transactions involving a line of credit. Examples are transactions affecting asset values, advances payable, receivable/received interest, and miscellaneous adjustments. This application also allows you to specify the cash account that incoming and outgoing funds impact (from Bank Account Setup). Once you assign a specific type to a line of credit record, the rules established here are applied to that line’s transactions.