Banking
Core Banking System — Annual License / Subscription
Paying the annual fee for the core banking platform (Temenos, Oracle FLEXCUBE, etc.).
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Prepaid IT — Core Banking System | Asset (+) | 2,400,000.00 | - |
| Cash / Bank | Asset (-) | - | 2,400,000.00 |
💡 Accountant's Note
The core banking system is the most critical IT infrastructure. Annual fees are prepaid and amortized monthly. Core banking modernization is among the largest capital and operating investment in the banking sector.
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