Accounts Receivable - Posting Interest

Pgm: ARFINFM – Generating Interest Charges; standard Treeview path: AR > Statement > Post Interest

This program is used to process financial charges (interest) on overdue customer accounts. The interest charges calculated are maintained as separate transactions against each customer's account.

The General Ledger is only affected if the “Post Interest to G/L when Calculated” box is checked for the interest code, through the Interest Code Maintenance screen.

The system will automatically default the company as specified in the log-on screen.

Interest Rate Journal

This field will default from the AR Control file but can be changed as required.

Last Statement Date

Enter the date associated with the processing of these interest rates. The date entered here will be used as the GL date for the debits and credits produced by this process. The system date will default to this field.

Print Reports Immediately – Checkbox

Check this box to print the posting report immediately after posting. If left unchecked the posting report will not print during the posting process but can be printed at a later time using the posting utility.

Use the [Process] button to begin the calculation and posting of interest.