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Help Accounts
The account model in the export finance defines the accounts and the resulting bookings in the single processing steps/ business transactions. The booking and account model is a sample implementation and should be verified in the course of the project.
Account types
The used account types are
- Advance Account
- Participation Account
- Suspension Account (Principal/ Interest) and
- Indemnity Payment Account
The advance account is created when a drawdown is made under the financing and typically contains a negative balance until the financing is repaid. Participation accounts are created when participations are available under the contract. The funded amounts of the participants are paid into these accounts.
Suspension accounts for borrower and participants hold any overdue amounts and are separated by principal and interest. The indemnity payment accounts hold any claim payments that were made by the risk bearers.
Advance and participation accounts are held on the credit level, suspension and indemnity payment accounts are held on the so called suspension level.
The credit level is displayed on the top part of the account panel while the suspension level is displayed on the lower part of the account panel.
- Advance Account (Type A1)
- Participation Account (Type P2)
- Suspension Account Borrower Principal (Type XA)
- Suspension Account Borrower Interest (Type XI)
- Suspension Account Participant Principal (Type PA)
- Suspension Account Participant Interest (Type PZ)
- Indemnity Payment Account
Account opening and account numbers
The account numbers of all account types can be manually entered by the user in the account creating business transactions or can be generated automatically by the application.
Manually entered account numbers are checked for uniqueness against the database, an error message is displayed in case the account number already exists.
Account numbers generated by the application are identified by '<NEW><INRxxxxxxxx>'. An unique identification number will be generated when the transaction is saved and it is displayed as account number in the account panel. Which option will be used is to be defined in the project.
Advance and suspension accounts which are used in an export finance can not be deleted in the account static data transactions.
Booking
| Transaction | Role | Account | Type | Description | Booking | Booking Text | Counter Account |
|---|---|---|---|---|---|---|---|
| Drawdown | ABK | Advance Account | A1 | Booking of the payout amount | Debit | ABK Drawdown | |
| BOR | Advance Account | A1 | Account Opening | - | - | - | |
| EXP | Advance Account | A1 | Account Opening | - | - | - | |
| PA1-9, P10-P99 | Participation Account | P2 | Account Opening | - | - | - | |
| Participant Payment | PA1-9, P10-P99 | Participation Account | P2 | Booking of the funded amount of the respective role | Credit | <Role> Drawdown | |
| Participation Changing | PA1-9, P10-P99 | Participation Account | P2 | Account Opening when participant is added for existing payouts | - | - | - |
| PA1-9, P10-P99 | Participation Account | P2 | Booking of the amount of the respective role | Credit/ Debit | Participant Change | - | |
| Interest Closure | ABK | Advance Account | A1 | Booking of the interest amount of the respective maturity according to the repayment schedule | Debit | ABK Interest Closure | P&L |
| PA1-9, P10-P99 | Participation Account | P2 | Booking of the interest amount of the respective maturity according to the repayment schedule | Credit | <Role> Interest Closure | P&L | |
| Receipt of Repayment | ABK | Advance Account | A1 | Booking of the repayment amount | Credit | ABK Payback Principal | |
| ABK Suspension Principal (when previously suspended) | Suspension Account Principal of the borrower (BOR)(when suspended) | ||||||
| ABK Payback Interest | |||||||
| ABK Suspension Interest (when previously suspended) | Suspension Account Interest of the borrower (BOR)(when suspended) | ||||||
| EXP | Advance Account | A1 | Interest Difference | - | - | - | |
| PA1-9, P10-P99 | Participation Account | P2 | Booking of the repayment amount | Debit | <Role> Payback Principal | ||
| <Role> Suspension Principal (when previously suspended) | Suspension Account Principal of the respective participant when suspended | ||||||
| <Role> Payback Interest | |||||||
| <Role> Suspension Interest (when previously suspended) | Suspension Account Interest of the respective participant when suspended | ||||||
| Suspension of a maturity | BOR | Suspension Account Principal | XA | Account Opening | - | - | - |
| BOR | Suspension Account Interest | XI | Account Opening | - | - | - | |
| PA1-9, P10-P99 | Suspension Account Principal | PA | Account Opening | - | - | - | |
| PA1-9, P10-P99 | Suspension Account Interest | PZ | Account Opening | - | - | - | |
| BOR | Suspension Account Principal | XA | Booking of the due principal amount from credit level to suspension level | Debit | ABK Suspension Principal | Advance Account | |
| BOR | Suspension Account Interest | XI | Booking of the due interest amount from credit level to suspension level | Debit | ABK Suspension Interest | Advance Account | |
| PA1-9, P10-P99 | Suspension Account Principal | PA | Booking of the due principal amount from credit level to suspension level | Credit | <Role> Suspension Principal | Participation Account of the respective role | |
| PA1-9, P10-P99 | Suspension Account Interest | PZ | Booking of the due interest amount from credit level to suspension level | Credit | <Role> Suspension Interest | Participation Account of the respective role | |
| Claim Collateral | RS1-9, R10-R99 | Indemnity Payment Account Principal on suspension level | PA | Account Opening | - | - | - |
| RS1-9, R10-R99 | Indemnity Payment Account Interest on suspension level | PZ | Account Opening | - | - | - | |
| Receipt of Indemnity Payment | RS1-9, R10-R99 | Indemnity Payment Account Principal on suspension level | PA | Booking of the indemnity payment of the respective role | Credit | ABK Indemnity Payment Principal | |
| RS1-9, R10-R99 | Indemnity Payment Account Interest on suspension level | PZ | Booking of the indemnity payment of the respective role | Credit | ABK Indemnity Payment Interest | ||
| PA1-9, P10-P99 | Suspension Account Principal | PA | Booking of the indemnity payment according to the accounted portion | Debit | <Role> Indemnity Payment Principal | ||
| PA1-9, P10-P99 | Suspension Account Interest | PZ | Booking of the indemnity payment according to the accounted portion | Debit | <Role> Indemnity Payment Interest | ||
| Account Consolidation | <Role> | Selected Source Account | <Type> | Booking of the consolidated amount | Credit | Account Consolidation | |
| <Role> | Selected Target Account | <Type> | Booking of the consolidated amount | Debit | Account Consolidation |
Booking Reversal
| Transaction | Role | Account | Type | Description | Booking | Booking Text | Counter Account |
|---|---|---|---|---|---|---|---|
| Booking Reversal Repayment | ABK | Advance Account | A1 | Booking of the repayment amount | Debit | Reversal: ABK Payback Principal | |
| Reversal: ABK Suspension Principal (when previously suspended) | Suspension Account Principal of the borrower (BOR)(when suspended) | ||||||
| Reversal: ABK Payback Interest | |||||||
| Reversal: ABK Suspension Interest (when previously suspended) | Suspension Account Interest of the borrower (BOR)(when suspended) | ||||||
| EXP | Advance Account | A1 | Interest Difference | - | - | - | |
| PA1-9, P10-P99 | Participation Account | P2 | Booking of the repayment amount | Credit | Reversal: <Role> Payback Principal | ||
| Reversal: <Role> Suspension Principal (when previously suspended) | Suspension Account Principal of the respective participant when suspended | ||||||
| Reversal: <Role> Payback Interest | |||||||
| Reversal: <Role> Suspension Interest (when previously suspended) | Suspension Account Interest of the respective participant when suspended | ||||||
| Booking Reversal Indemnity Payment | RS1-9, R10-R99 | Indemnity Payment Account Principal on suspension level | PA | Booking the indemnity payment of the respective role | Debit | Reversal: ABK Indemnity Payment Principal | |
| RS1-9, R10-R99 | Indemnity Payment Account Interest on suspension level | PZ | Booking the indemnity payment of the respective role | Debit | Reversal: ABK Indemnity Payment Interest | ||
| PA1-9, P10-P99 | Suspension Account Principal | PA | Booking of the indemnity payment according to the accounted portion | Credit | Reversal: <Role> Indemnity Payment Principal | ||
| PA1-9, P10-P99 | Suspension Account Interest | PZ | Booking of the indemnity payment according to the accounted portion | Credit | Reversal: <Role> Indemnity Payment Interest | ||
| Booking Reversal Suspension | BOR | Suspension Account Principal | XA | Booking of the due principal amount from credit level to suspension level | Credit | Reversal: ABK Suspension Principal | Advance Account |
| BOR | Suspension Account Interest | XI | Booking of the due interest amount from credit level to suspension level | Credit | Reversal: ABK Suspension Interest | Advance Account | |
| PA1-9, P10-P99 | Suspension Account Principal | PA | Booking of the due principal amount from credit level to suspension level | Debit | Reversal: <Role> Suspension Principal | Participation Account of the respective role | |
| PA1-9, P10-P99 | Suspension Account Interest | PZ | Booking of the due interest amount from credit level to suspension level | Debit | Reversal: <Role> Suspension Interest | Participation Account of the respective role | |
| Booking Reversal Interest Closure | ABK | Advance Account | A1 | Booking of the interest amount due according to the repayment schedule | Credit | Reversal: ABK Interest Closure | P&L |
| PA1-9, P10-P99 | Participation Account | P2 | Booking of the interest amount due according to the repayment schedule | Debit | Reversal: <Role> Interest Closure | P&L | |
| Booking Reversal Drawdown | ABK | Advance Account | A1 | Booking of the payout amount | Credit | Reversal: ABK Drawdown |
