G/L Account Control Configuration

Screen ID: 

Screen Title: 

Panel Number:

USGL-02

Member G/L Account Configuration

3125


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Access this screen after entering a G/L on the entry screen.

NOTE: This screen appears after a G/L account number is entered on an initial screen. The account number entered will depend on the control record being configured. Keep reading for details.

The G/L Account Control configuration is necessary to govern the accrual General Ledger interface that occurs during end-of-day processing. It provides a cross-reference between the G/L accounts that represent member account balances and the associated G/L accounts representing accrued dividends or interest. Records arestored as part of the SYSCTL system control file.

This configuration is also used when printing the MTD Member Control Analysis report (Tool 543: MTD Member Control Analysis). The Member Control Analysis is used to verify that daily activity matches beginning-of-day G/L account balances for member and accrual G/Ls. This configuration defines which accounts are included on that report.

Shares and certificates behave differently than loans, and are therefore configured differently on this screen:

Shares and Certificates

For share and certificate products, use this screen to create a record for every G/L account that represents member share/certificate accounts. This creates a “base” record that is then tied automatically to the accrual G/L via the settings in the dividend application or CD type configuration.

  1. On the initial screen, enter the G/L account for the share or certificate product. For example, if your checking accounts are represented by G/L account 902-00, you would enter 90200 on the initial screen.

  2. On this screen, complete the following fields: Last Process Date (if appropriate—see below), Description, and Application Type. Do not use either of the Cross Reference Account # fields.

  3. Use Enter to save the change.

  4. Repeat Steps 1 through 3 for all other share or certificate G/Ls.

Loans

This screen must be completed for every G/L account that represents member loans, as well as for every loan interest accrual G/L. G/L accounts used by accrual processes are obtained from these records, not from loan category configuration.

Create the Accrual Records (Steps 1-4), Create the “Base” Records (Steps 5-8)

  1. On the initial screen, enter the loan accrual G/L account. (This will be defined as a cross reference when building the base record) was defined as a Cross Reference G/L Account in one of the base records created earlier. For example, if on your Auto Loans record 701-01 you specified the accrual G/L as 781-01, you would now enter 78001 on the initial screen.

  2. On this screen, complete the following fields: Last Process Date (if appropriate—see below), Description, and Application Type. Do not use either of the Cross Reference Account # fields.

  3. Use Enter to save the change.

  4. Repeat Steps 1 through 3 for all other loan accrual G/Ls.  

  5. On the initial screen, enter the G/L account for a loan product. For example, if your Auto Loans are represented by G/L 701-01, you would enter 70101 on the initial screen.

  6. On this screen, complete the following fields: Last Process Date (if appropriate—see below), DescriptionApplication Type, and Cross Reference G/L Account #1. If this is a student loan, also complete Cross Reference G/L Account #2 (see below for a description of which accounts should be entered in these fields).

  7. Use Enter to save the change.

  8. Repeat Steps 5 through 7 for all other member loan G/Ls.

Field Descriptions

Field Name

Description

Last Process Date

This date represents the last time accruals were processed for this product.

Leave this field blank if there are no member records yet for this G/L. This is updated automatically by daily accrual processing.

If member records have already been created without this configuration being set up (such as if you are splitting existing loan categories to use separate G/Ls): for a base G/L record, enter the last EOD date; for an accrual G/L record, enter the last BOD date.

  • HINT: If you are unsure, look at an existing G/L control for another similar base and accrual G/L and make the dates match.

Last Control Number

Leave this field blank. It will be updated automatically during daily accrual processing.

Description

Enter a description of this G/L account to be used on the MTD Member Control Analysis report as well as on various daily dividend and interest accrual reports.

Application Type

Enter one of the following to define the product type for which this cross reference will apply:

SH Share/savings products

SD Share draft/checking products

IR IRA share products

CD Certificate products (including IRA CDs)

TX Tax/escrow share products

LN Closed-end loan products

OC Open-end loan products

Cross Reference G/L Account #1

Use this field only when creating the base loan G/L record. Enter the G/L account number that represents the interest accruals for this loan product.

For student loans, enter the G/L that represents member interest. (Field name Accrued interest on the loan category configuration.)

Cross Reference G/L Account #2

Use this field only when creating the base loan G/L record for a student loan product.

Enter the G/L account number that represents government interest. (Field name Student loan gov't interest on the loan category configuration.)

Button

Button

Description

Skip (F8)

Use this to return to the initial screen without saving anything.