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Document Header
Document Header
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Chanigng report settings such as document status (Open/Closed/All) in document
header or changing type of interest calculation
set in
Document Types (Documents/Payments) affects how
interest are calculated. It is wise to always use the same method of interest
calculation for sake of harmonizing data. |
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A check is run for approved interest calculations. |
Set criteria in interest calculation. Clicking Select
displays subejcts in the main window,
for which you want to create a report of interest calculation. Relevant
documents are displayed in the bottom section.
Clicking Calculate generates
interest calculation. The following message is returned after calculation has
been completed: Calculation successfully created!
At the same time two additional buttons Create Invoices
and OK appear in document
header.
You can run interest calculation using various different criteria.
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Before approving report, you MUST run interest calculation. |
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Any changes made to the criteria used in interest calculation, after having
already run it, requires to select data used in interest calculation once again.
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After clicking OK, you
cannot modify interest calculation anymore.
The calculation is assigned Confirmed status. The following message is returned
should you try to change an already confirmed calculation:
The document is already confirmed! It cannot be
changed anymore!
Following this, the program enables you to create debit notes which function
as invocies for interest just by clicking Create Invoices.
Creating such documents is carried out based on settings in the
Document Types.Veiw the created invoices in the
Invoices panel.
In addition, you are allowed to delete invoices and at the same time deleting
the records.
To create interest calculation for a subejct, whose records of interest were
deleted, you have to create a new interest calculation using new criteria.
Post invoice for interest as any other
invoice issued under Goods | Issue. After
the operation has completed, you can view posts in interest calculation under
Posts
tab. Or under Posts tab in the window for invoices
issued.
Account
|
Set an account for which you want to create interest calculation. You can
select accounts:
- by using wildcard characters, e.g. 12%,
- by selecting them from the table.
Chart of accounts is opened in dropdown.
| | Linked Document |
If
required, restrict the report by individual linked document. | |
Document |
If required, restrict the report by
individual document. | |
Subject |
Restrict the report by individual
subject. | |
Subject Type |
Restrict the report by individual
subject type. |
Overdue/paid/finished (from - to)
| Enter date margins of the
interest-bearing period. They are applied in different ways,
according to the document status you selected in the document status
box. |
|
Grace Period |
Exclude the amount from interest calculation on which interest will be
calculated only for as many (or less) days as set in the field. The value is
by default set to "-1" meaning that this restriction will not be used.
Example: If you enter »5«, interest calculations of those documents where
interest are calculated for 5 or less days will not be displayed. |
|
Document Status |
(see above) For documents with the
Open status - The entered date margins
represent document due dates (from-to). The interest are calculated for
documents matching the selected criteria, and that is, ONLY for the
selected period (from-to). Using this method of calculation you must
select the first day of the month in the date from field and the last
day of the month in the date to field.
for documents with the Closed status - The entered date
margins represent payment dates, that is, dates when the document was
closed. Here calculating interest shows interest from documents matching
the selected criteria, that is, for the ENTIRE linked document from due
date till the date on which it was closed.
for documents displayed after having selected the
All status -
the date margins represent
- due dates for open documents
- payment dates, that is, dates on which documents were closed for
closed documents
Here calculating interest shows interest from documents matching the
selected criteria, and that is, ONLY for the selected period (from-to).
Using this method of calculation you must select the first day of
the month in the date from field and the last day of the month in
the date to field. |
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Amounts |
Select between amounts in local
currency and those in foreign currency. |
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Add Interest to Principal |
It is wise to use these checboxes only in fixed interest rate (conforming
Add Reval. Interest - It is checked by default. Revaluation interest will
be added to th principal in the next interest-bearing period.
Add Real Interest - It is checked by default. Real interest will be added
to the principla in the next interest-bearing period.
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Created On | Displays dates when the invoice
was created. |
Invoice Date
| Displays invoice due date.
| Number
|
Displays the ID of invoice. |
Status
|
Displays the status assigned to
the document (In Preparation, Confirmed, Invoices, Reversed). |
|
Interest Rate |
Displays a set type of
interest rate. |
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Min. Amount (per Subject/Doc.) |
Exclude the amounts smaller
than the one entered here from interest calculation. The value is by
default set to "-1" meaning that this restriction will not be used.
Example: If you enter »100«, interest calculations of those documents
where calculated interest are smaller than 100 euro, will not be
displayed. |
|
Nominal Int. Rate |
Here you can enter the
nominal (annual) interest rate to be used INSTEAD of the once from the
table (see
interest rates). It is
suitable for example when you try to calculate interest on receivable or
payable using the entered revaluation interest and a fixed annual
interest rate. For sake of this you need not create a new interest
table: for example, use revaluation interest that can be found in
default interest table and just enter the fixed annual nominal interest
rate.
The value is by default set to "-1" meaning that nominal interest rates
from the table of interest rates are used. |
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Note | Here you can enter any notes to the invoice. |
 Show Actual Due Dates
| Because the due date is not considered as
belonging to the interest-bearing period, the interest calculation report displays the first day following the due
date.
If checked, the report nontheless displays interest-bearing period including due
date.
See example of a document 345 with due date January 1st, 2000 and payment
settled on February 5th, 2000:
If checked, displays "1.1.2000 to 5.2.2000" as the interest-bearing period
If left unchecked, displays the actual period for which you calculate interest,
that is "2.1.2000 to 5.2.2000"
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 Decrease Principal by Overpayment
Interest | It is
not wise to check it when using variable interest rate (proportional
method)!When using fixed interes rate (conforming method) you
must check this option every time (Calculating interest on
overpayments) |
 Calculate Overpayment Interest |
The interest on prepayment/overpayment will be calculated in negative
amounts, thus deducting them from the total amount. |
 Show Overpayments |
The amount of prepayment/overpayment is displayed in a separate line of interest
calculation together with the date. this way it is not marked whether interest
will be calculated on prepayments/overpayments, or not! to do so check the
field:
overpayment - If the invoice was settled in the amount greater than the
one issued in receivable
prepayment - If the invoice was settled with prepayment and having closed
prepayments, in this way ensuring that prepayment amount is assigned the same
linked document number. When closing prepayments select the date from which on
you want to calculate interest as the journal entry date!
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 Use Interest Rate from Subject
|
If you entered an
interest rate to be used in calculating default interest on payments in
the Subjects register |
Customer (in case you selected Customer) or
Suppliers (in case you selected Supplier) the interest will be
calculated in the following way:
If checked,, the interest rate table from the Subjects register will be
used. But if you have not entered any interest rate table, data from the Types of Interest Rates
and Nominal Int. Rate
fields are used.If unchecked, data from the Types of Interest Rates
and Nominal Int. Rate
fields are used.
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 Calculate Lines without Subject
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Typically, interest are calciulated on subject accounts where a subject is
specified. That is, it is required you set it in line of posting and closing.
To calculate default and contract interest on accounts where the subejct is not
specified (that is, they are not subject accounts) check a corresponding
checkbox so that interest are calculated for such records as well. Such as for
example calculation of default interest on overdue unpaid liabilites to state.
There is one condition, though, and that is the linked document of post and its
subsequent closing must be entered accordingly. |
 Calculate Interest for Closed Lines
| If you try to calculate interest for closed documents or those when having
selected All, a question arises whether default interest should be calculated on
default interest for the period from the day when the document was closed till
the end of the of the period incuded in the report (date TO). If checked, default interest will be calculated on default interest from the day
when the document was closed till the date from the To field
If unchecked, default interest will be calculated only till the day on
which the document was closed (It is suitable for calculating default
interest). |
| Select |
Click Select
to collect available documents/payments, according to the criteria set. |
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Calculate |
Then click Calculate in
order to calculate the interest on amounts. |
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OK | By clicking
OK
in the Calculation panel
confirms the report and shifts to the Invoices
panel. |
| Create Invoices |
Click Create Invoices to
generate invoices for interest. |
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Print |
The following two buttons appear when opening the Posts panel. By
clicking Print displays the
current report, that is, interest calculation which you can subsequently
print. |
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Print All | By
clicking Print All displays
all adequate reports which you can subsequently print. |
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