Calculate Monthly Interest

1. Login into Notes Receivable system as Manager.
   
2. Click on the Calc.Interest button.
   
3. On click of Calc. Interest button Calculate Interest screen will be displayed.
   
4. Calculate Interest screen contains following controls in the screen.
   1. Last Interest Date: This field is non-editable and used to view the last interest date. If the monthly interest is not calculated, then current system date will be displayed.
   2. As Of: It’s a date control, the minimum date for this control is current system date and user cannot select past dates.
      
   3. Ok button: On click of Ok button following warning message will be displayed.
      
      If User clicks the button “Yes” Interest for all notes will be calculated.
      If User clicks the button “No” Warning message screen will be closed and Calculate Interest screen will be displayed.
   4. Cancel Button: This button is used to exit from Calculate Interest screen and return to Maintenance screen. On click of Cancel button following message will be displayed.
      
      

      If user clicks on the button “yes” then warning message screen will be closed and return to Maintenance screen.
      If user clicks on the button “No” then warning message screen will be closed and Calculate interest screen will be displayed.

Note 1:

1. Notes receivable system doesn’t calculate the interest for the same day again. In this case following message will be displayed.
   
   Click the “Ok" button
   
   

   On click of “Ok” button of warning message, the “OK “ button in the Calculate Interest screen will be disabled.
   

2. If the System date is less than the Last Interest calculation date then following warning message will be displayed and ok button will be disabled.
   
   

Note 2:

1. On Calculate interest form, user can select “As Of” date till next day of last interest calculation date.
   

   Example: Last Interest Calculation Date: 02/29/2013
          Current System Date: 01/04/2013       User can select any date between 03/01/2013 till 01/04/2013

2. Interest will be calculated till the “As Of” Date.
3. Date inserted into General Ledger will be the system date in any case.
   

   Example: Interest Calculation Date is 03/31/2013

       System date is 01/04/2013
   General Ledger record will be with the date 01/04/2013. Also source number will be I0401 and not I0331.