Document Header

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 i

Linked Document

If required, restrict the report by individual linked document.

If required, restrict the report by individual document.

Restrict the report by individual subject.

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.

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.

(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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• For document status ALL additional option are available on right click.

Mark all open - program marks only open candidates and documents for calculation of interests.

Mark all closed - progam marks only closed candidates and documents for calculation of interests.

Warning Changing 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.

We can only select candidates in domestic currency (when LCY selected) or in selected foreign currency (when FCY selected).

You can select multiple statuses for increasing principal for interests. Examle: by selecting status Sued, program will increase principal for interests only if subject is marked as Sued

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.

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.

 
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"

It is not wise to check it when using variable interest rate (proportional method)! When using fixed interest rate (conforming method) you must check this option every time (Calculating interest on 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!

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 unchecked, data from the Types of Interest Rates and Nominal Int. Rate fields are used.

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.

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

By clicking OK in the Calculation panel confirms the report and shifts to the Invoices panel. At the same time two additional buttons Create Invoices and OK appear in document header. 

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!

Click Create Invoices to generate invoices for interest. 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.

Hint In addition, you are allowed to delete invoices and at the same time deleting the records. To create interest calculation for a subject, whose records of interest were deleted, you have to create a new interest calculation using new criteria.