The following event types are delivered for use with the various chain jobs of Debt Management, but can also be used to manually record loans.
LN02: Authorize Loans To Be Taken - This event type is used with the Debt Accounting (DA) transaction to record the amount authorized for borrowing with loans from external or internal parties. As those loans are made, this event type is used again to reduce the outstanding amount of that authorization.
Posting Pair A:
Dr A304: Borrowing Authorized But Not Taken (A)
Cr A305: Borrowing Authorized Offset (CA)
Prior Event Types: Referenced accounting activity for this event type is not possible.
Subsequent Event Types: The same event type will subsequently be used with a negative accounting line to reduce the original balance as loans are taken.
LN10: Record External Loan Taken - Current Portion - This event type is used with the Debt Accounting (DA) transaction to record the portion of loan principal that will be due to the lender in the current year.
Posting Pair A:
Dr A001: Cash (A)
Cr A310: External Loans Payable – Current (L)
Prior Event Types: Referenced accounting activity for this event type is not possible.
Subsequent Event Types: While not directly referencing this event type, manually entered or system generated payables will reduce the current payable account.
LN11: Record External Loan Taken – Long Term Portion - This event type is used with the Debt Accounting (DA) transaction to record the portion of loan principal that will be due to the lender after the current year ends.
Posting Pair A:
Dr A001: Cash (A)
Cr A311: External Loans Payable – Long Term (L)
Prior Event Types: Referenced accounting activity for this event type is not possible.
Subsequent Event Types: While not directly referencing this event type, manually entered or system generated entries will occur as a new year starts in the repayment of a loan. These entries will transfer from the long term account to the current account the portion of principal due in a given year.
LN20: Amortization of Loan Costs - This event type is used with the Debt Accounting (DA) transaction to setup loan costs for later amortization.
Posting Pair A:
Dr A330: Unamortized Loan Costs (NE)
Cr A331: Accrual Basis Equity Offset – Loans (E)
Prior Event Types: Referenced accounting activity for this event type is not possible.
Subsequent Event Types: While not directly referencing this event type, the later amortizations of the loan costs will use the same event type with a negative line amount to reduce what was initially recorded.
LN30: Authorize Loan Principal Repayment - This event type is used with the General Accounting Expenditure (GAX) transaction to setup a disbursement request to pay principal to the lender. The only posting pair used is the one shown below.
Posting Pair A: Disbursement
Dr A310: External Loans Payable - Current (L)
Cr D001: Disbursement Payable (L)
Prior Event Types: Referenced accounting activity for this event type is not done because this is not an expenditure payment but a liability reduction, thus no encumbrance is necessary to reserve budget funds.
Subsequent Event Types: Depending on the Disbursement Option on SOPT, the event types that will reference and liquidate LN30 are: Pay Loan Principal by Check, Standard Warrant, or Clearing Fund Warrant (LN31 - 33). The AP Event Type Crosswalk (APEVXW) and MD Default Event Type (MDDFEV) will ensure the correct event type is placed on the disbursement according to SOPT and other disbursement parameters.
LN31: Pay Loan Principal by Check - This event type is used with the Automatic Disbursement (AD) and Manual Disbursement (MD) transactions to disburse payment to the lender for loan principal due. The only posting pair used is the one shown below.
Posting Pair A: Disbursement
Dr A310: External Loans Payable - Current (L)
Cr A001: Cash (A)
Prior Event Types: Referenced accounting activity for this event type is going to be the LN30 – Authorize Loan Principal Repayment even type.
Subsequent Event Types: The Event types that follow are those used on the Disbursement Reclassification transaction type to record a disbursement as stale (DR01 & 2), escheated (DR03 & 4), or cancelled (DR05 & 6).
LN32: Pay Loan Principal by Warrant - This event type is used with the Automatic Disbursement (AD) and Manual Disbursement (MD) transactions to disburse payment to the lender for loan principal due. The only posting pair used is the one shown below.
Posting Pair A: Disbursement
Dr A310: External Loans Payable - Current (L)
Cr D007: Warrant Payable (L)
Prior Event Types: Referenced accounting activity for this event type is going to be the LN30 – Authorize Loan Principal Repayment even type.
Subsequent Event Types: The Event types that follow are those used on the Disbursement Reclassification transaction type to record a disbursement as stale (DR01 & 2), escheated (DR03 & 4), or cancelled (DR05 & 6). When the warrant is redeemed, DR20 would be the referencing event type on the Warrant Reconciliation (WR) transaction.
LN33: Pay Loan Principal by C.F. Warrant - This event type is used with the Automatic Disbursement (AD) and Manual Disbursement (MD) transactions to disburse payment to the lender for loan principal due. The only posting pairs used are the ones shown below.
Posting Pair A: Disbursement
Dr A310: External Loans Payable - Current (L)
Cr A001: Cash (A)
Posting Pair I: Clearing Fund
Dr D017: Warrant Clearing Cash (A)
Cr D018: Warrant Clearing Payable (L)
Prior Event Types: Referenced accounting activity for this event type is going to be the LN30 – Authorize Loan Principal Repayment even type.
Subsequent Event Types: The Event types that follow are those used on the Disbursement Reclassification transaction type to record a disbursement as stale (DR01 & 2), escheated (DR03 & 4), or cancelled (DR05 & 6). When the warrant is redeemed, DR21 would be the referencing event type on the Warrant Reconciliation (WR) transaction.
LN21: Accrue External Loan Expense - This event type is used with the Debt Accounting (DA) transaction to accrue loan repayment costs and then reverse them in the subsequent period.
Posting Pair A:
Dr 0011: External Accrued Expenditure / Expense (NS)
Cr A315: Accrued Loan Expense Offset (L)
Prior Event Types: Referenced accounting activity for this event type is not possible.
Subsequent Event Types: While not directly referencing this event type, the later accrual reversal will use the same event type with a negative line amount to reduce what was initially accrued.