BizTerm Definition
Full Definition

1. Refers to the fact that fees and interest can be accumulated in a computerized system and only periodically applied. For example interest accrues daily but may only be actually credited to an account upon the completion of a full month. See also Accrual, end of day, end of month and end of year. 2. Changes to data in a data base are said to have been applied. This is to reflect the fact that many changes to a data base can be entered but are not actually done until an authorizer agrees to it and/or a certain date or time arrives. Only after this is the change actually in effect.

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