Can XTR TMM deal accumulate monthly accrued interest postings, then reverse after 6 months?
XTR client/user requirement is to accumulate (post) monthly interest accruals, then reverse every six-months (corresponding with the semi-annual payment), opposed to posting & reversing each period (month).
Month 1 accrual journal entry post amount = $16,00,000
Month 2 accrual amount = $4,500,000
Month 2 accrual journal entry post amount = $20,500,000
Month 3 accrual amount = $4,500,000
Month 3 accrual journal entry post amount = $25,000,000
Month 4 accrual amount = $4,500,000
Month 4 accrual journal entry post amount = $29,500,000
Month 5 accrual amount = 4,500,000
Month 5 accrual journal entry post amount = $34,000,000
Month 6 accrual amount = $4,500,000
Month 6 accrual journal entry reversal amount = $38,500,000 | Make semi-annual coupon payment = $38,500,000
Month 7 accrual journal entry amount = $4,500,000
Month 8 accrual amount = $4,500,000
Month 8 accrual journal entry amount = $9,000,000
Marc