Setting up journal entries
IBM® TRIRIGA® includes standard journal entries used in the lease accounting life cycle. You can also set up customized journal entries.
Triggering journal entries
You can choose for journal entries to be triggered by either a lease event or a periodic posting. Lease events include:
- Lease activation
- Modifications
- Terminations
- Expirations
- Monthly straight-lining
- Interest
- Amortization postings
- Principal reduction
Setting up customized journal entries
Customized journal entries can be created using the Journal Entry Setup process. Once you identify journal entries for processing, follow the Journal Entry processing procedures. This process creates a Data Transfer Object (DTO) file that exports the journal entry data to a client’s middleware and ultimately to the ERP General Ledger system. After all journal entries have been processed for a period, the Contract Accounting Period Close process closes the previous period and prevents journal entry creation for prior periods. This Contract Accounting Period Close process only prevents postings into closed periods but allows for calculation of journal entries for retroactive periods and processing in an open period.