Processing customer interest

A customer account needs to be set up for interest in order for you to be able to process the interest. 

You can do this by doing the following:

  1. Navigate to Debtors / Account Maintenance.
  2. Enter (or select) the appropriate account number in the Account text box.
  3. Click on the Financial Details tab.
  4. Enter Y in the Interest (Y/N) text box.
  5. Enter the interest age in the Interest Age text box.
  6. Enter the percentage of interest the customer must pay in the Interest % text box.
  7. Click the Accept button.

Processing customer interest

Watch this video to see how to process customer interest or follow the steps below it.

Navigate to the correct window

  1. Navigate to Debtors / Debtor Payments / Process Interest.

Set the parameters of the list

  1. Select the appropriate period from the Period dropdown list.
  2. Enter the journal date in the Date text box.
  3. Select to include UD payments in the applicable checkbox, if required.
  4. Select to include UD cheques in the applicable checkbox, if required.

Generate the list

  1. Click the Accept button.

Process the interest

Make sure that the entries are correct before you process the interest journal.
  1. Click the Process Interest Journal button.
  2. Check that the following message box appears: Are you sure you want to create the journal?
  3. Click the Yes button.


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