Call Account Interest Posting

Call Account Interest Posting

Purpose

This process posts interest to all accounts with an interest due date up to and including the date specified on the process dialog. Interest will be posted according to the rules specified on each accounts  dialog.

Timing

Interest cannot be posted in advance of today's date. Any module month end rollover must be completed prior to posting any interest for a new month.

Access

  1. Call Savings | Post Interest on Accounts

Process

The below dialog will display:



Field
Explanation
Value Date
Will default to today's date

Change if required
Bank
[F2] to  a bank account for the direct credit file to be created
Direct Credit Particulars Ref.
Enter a particulars reference for the direct credit file
System
Display Only field

Shows the module that interest is being posted for
Account
Not required for daily/monthly processing

This is useful for when interest is being charged/paid on a single account
Account Type
[F2] to  an account type if required
Payment Date
Enter the payment date to display on the communication created by the posting process
Message
Enter a message that will display on all communications created by the posting process

The message can contain up to 256 characters

 to post the interest
Once complete, the below success message will appear:

Results

Interest transaction(s) are posted to the accounts. These can be viewed in the Account Transaction Browse.

The account Accrued Interest amount will have changed by the amount of the posted interest transaction.

The accounts Next Interest Date has been updated.

A Direct Credit file will have been created in the Cashbook for Call Account interest Postings.

If a Call Account has been selected on the Call Account Account Type setup, the net value interest for all accounts linked to this account type will be transferred to the account specified for payout.



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