Raising Interest Journals
Interest are normally charged on overdue debtors/leisure accounts.
Click on the
button to open the Interest Journal Wizard :
|Account Type||Select which accounts types will be charged e.g Debtors/Leisures.|
|From Account||(Optional) Select the first account number on which interest must be charged.|
|To Account||(Optional) Select the last account number on which interest must be charged.|
|Apply to Balances||
|Interest Rate||Enter the interest rate percentage per Annum.|
|Ignore Charges Below||You can set a floor limit which will ignore any interest calculations, if the charge is below the amount stipulated. E.g. R10.00|
|Description||Enter a description for the interest journal e.g Interest charge on overdue accounts.|
|Service Type||Select the service fee code to be used. Note that they are setup in Windows Invoicing as General Charges.|
Select the General Ledger code to which the interest must be written.
e.g. Interest Received
Once the selection is made click on
to start the creation of interest journals: