Monthly Interest Posting

Post the monthly (simple) interest to client accounts defined as interest bearing in Account Registration.

• In monthly interest posting, the total interest available for distribution is entered at the time of the posting. This form is enabled and accessible when Monthly (Simple) Interest is selected in the Enter Interest Posting Method form.

1. Go to: Avatar CFMS > Account Management > Interest Posting > Monthly Interest Posting
2. In the Calculate Or Calculate And Post field:

• Select Calculate Interest to generate a report that details interest distribution.
• Select Calculate And Post Interest to post the interest to the individual accounts. A report that details interest distribution is also generated with this selection.

2. In the Statement/Posting Date field, enter the appropriate date.
3. In the Interest Amount field, enter the total amount of interest to be distributed.
4. In the Transaction Code field, select a transaction code. Only transaction codes defined as Credit will appear. Code definitions are listed in the Add or Edit Transaction Codes form.
5. In the Transaction Description field, enter a description to accompany the transaction.
6. Click Process.

► Registry Setting

• Disallow Interest To Exceed Amt Entered