Distributed Interest Process
Distributed Interest Calculation
NAVIGATION: PROCESSES menu > Distributed Interest > Distributed Calculation
- Community Selection:
- Check the Communities that are to be processed in the Community Selection window
- If all Communities will be processed at the same time, press SELECT ALL to enter a check mark in all of the Communities that are in the window
- Security Deposit Selection:
- Check one or more of the Security Deposit Codes to include them in the interest calculations
- If all of the displayed Security Deposit Codes generate interest, press the SELECT ALL to check all of the boxes
- For example: If interest that was previously posted should not be included in the interest calculations, leave Rent and Pet S/D interest codes unchecked.
- S/D Interest Code
- Select a Security Deposit Interest Code.
- This is the code that the calculated interest will be deposited to
- Effective Date
- Enter or select an Effective Date.
- The effective date is used in the calculation process and will be displayed in the Actual Date field if Cash Receipts has been setup to use it.
- Transaction Date
- Enter or select a Transaction Date.
- The Transaction Date must be within the current period and will be the date the transaction is recorded in the general ledger interface and Tenant Activity.
- Only S/D Balances Over
- Enter a dollar amount in Only S/D Balances Over field
- Balances at or under this amount, on the effective date, will not be included in the calculation.
- Total Interest Amount: enter the amount of interest to distribute in Total Interest Amount
- Click START INTEREST CALCULATION
- A prompt will appear when the process is complete. Click OK.
Review Interest Edit List
NAVIGATION: PROCESSES menu > Distributed Interest > Edit List
- Area Number: enter or select the area; leave blank to see all areas
- Community Number: enter or select the community; leave blank to see all communities
- A community cannot be selected if the Area Number was left blank.
- Payment Type
- Select ACH to see only includes the interest payments that will be made electronically with direct deposit.
- Leave the box empty to generate an edit list that contains regular and ACH payments.
- Enhanced Merge: Create Merge Interface
- Enter a check mark in this field before running the report to have the report information available to print batch letter or forms based on this report.
- Preview or print this report and then go to Batch Letters and Forms and press the Build from Last Report button to populate the grid
- Receipt Date: enter or select a start and end date
- Sort Order: Batch/Sequence or Tenant Number
- Click to place the dot in the circle in front of either tenant number or tenant name to have the report generated in the order selected.
- Preview or print the report (see Report Preview, Print and Save Options).
- If any of the transactions need edited or deleted, open Cash Receipts Entry and browse for the transaction.
- An interest edit list can also be printed from Activities menu > Cash Receipts Processing > Cash Receipts Edit List.
Post Interest
NAVIGATION: PROCESSES menu > Distributed Interest > Post Interest
- Area Number: enter or select the area; leave blank to see all areas
- Community Number: enter or select the community; leave blank to see all communities
- A community cannot be selected if the Area Number was left blank.
- Receipt Date: enter or select a start and end date
- Deposit/ACH Date: enter or select a date
- Payment Type: select the payment type
- Transaction registers: Preview or print the report (see Report Preview, Print and Save Options).
Distributed Interest Calculations can be viewed and edited, after their creation, in Cash Receipts Entry, go to Accounting menu > Cash Receipts Processing > Cash Receipts Entry. The edit list and posting process can be run from Processes or Accounting.
7/2023