An accounting event must be configured to record GLP charges.

• Navigate to: Setup > Accounting > Events.

• Configuration:

  • Set the attribute for Global Loan Protection Charged to Loan Insurance Charged.

  • If VAT is applicable, select the VAT Applicable checkbox to enable VAT calculation for this event.

• Example:

  • Description: Credit Life Insurance

  • Transaction Description: Credit Life Insurance

  • Debit Leg: Client Control (Debtor's control)

  • Credit Leg: Credit Insurance

  • Event Attribute: Loan Insurance Charged

  • Force Reference Number: Unselect