SYM-PAC how to : Use Batch Interest Update to calculate Debtor Interest Charges

Easily calculate Interest Charges for Debtors with monies owing

How to use SYM-PAC’s Batch Interest Update feature to calculate Debtor Interest Charges

 

Use the Batch Interest Update feature to Calculate interest charges for Debtors with monies owing in Selected Financial Periods and to access Program, Customer, Debtors, Interest Calculation settings.

 

> Batch Interest Option Menu

 

> Account Option Settings Menu

This is accessed within Debtor Alter Menu.

 

> Batch Interest Options

 

1: Interest

  • Set % to be Calculated on amount owing

2: Processing Date

  • Set to Previous End of Month Date for Interest to be Calculated as at Selected Date

3: first > Charge Type Options

  • Flagged Debtors Only
  • All Debtors

3: second > Report Type Options

  • Report Only
  • Update Charging Fee
  • Prompt for Each Debtor

4: Overall Charges

  • Minimum Interest Charge, Select Minimum $ Amount if Required
  • Account Fee, Select Dollar Amount if Account Fee Required
  • Add Fee to Interest, select if Fee is to be added to Interest Calculated
  • Statement Print Fee, select $ Amount to be Charged for Statements that are Posted to Customers
  • Add Statement Print Fee to Interest, select if Print Fee is to be added to interest

5: Interest to Be Calculated

  • Select to Flag Debtors, use this Option for Running Interest Calculation for Flagged Debtors

> Interest Calculation Reports

Report Showing Amount to be Charged:

 

Report Showing Amount Charged:

 

 

Give it a go today!

 

For more information on setting up the options for the Discount Matrix in your SYM-PAC system, contact Client Services on 1300 361 732.

 

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