Provision for Loan and Lease Losses

Acct Code

Description

Tip for pulling data stored in CBX

300

Expense recorded to maintain the Allowance for Loan and Lease Losses Account.

NCUA Recommended Chart of Accounts series 300.

This is typically a General ledger balance from your credit union income statement. Obtain the balance of the G/L account as of quarter end.

Default automation routine is G/L quarterly account balances. The default G/L numbers are listed. If you do not want these G/L balances to auto-populate for this Account Code, click then enter to access the configuration screen where you can change or delete the default G/L configuration.

Default G/L no.’s 300.00-309.99