Interest on Bank Accounts - Generate Transactions

Back Office > Cash Management > Bank Account Interest Ledger

In the Bank Account Interest Ledger you can see all deals that have been created when you ran rules in Bank Account Interest Rules.

To generate interest transactions on the bank accounts connected to each rule, choose the bank account you want to generate transactions for: 

If the transaction is mirrored the 'Mirror type' status column shows 'Invalid' before the generate transactions have been run for the first time for that rule. When the generate transactions have been run the 'Mirror type' status column shows 'Original'.

Note! If the column 'Rule' is empty the transaction will no longer be updated. It has then no link to an existing rule.

We always create all interest transactions from begin date to current payment period. To create next payment period, and update bank account balances you need to click on Update transactions. 

NOTE! To capitalize the interest the balance needs to be Confirmed when you click on Update transactions.

To create the accounting you need to click update transaction. The future accounting is created when you do fixing of the interest or when you click on update transaction.

In order to see the generated transactions search and open the deal.

In tab Summary you can see the general terms of the interest calculations;

 In tab Interest Terms you can see the terms for the interest period;

 In tab Transactions you can see all generated transactions;

Note, the interest amount is updated when you click Update transaction and when the fixing of interest is done -> Update transaction should therefore be used to update the bank balances and interest amounts monthly. The bank balance in this case means the Base amount on the interest transaction that the interest calculation is based on.

To capitalize the interest the Bank balance, for the payment date of the interest transaction,  needs to be Confirmed when you click on Update transactions.

A confirmed transaction will change status to Modified when the last fixing for a payment period is done.

Locked transaction are not updated at any time. The transaction is locked if it has approve/exported accountings or if is processed in Pay.

The Update transactions routine can also be scheduled in the Autopilot We recommend to schedule the run once per month after the fixings for the whole period are done. 

When the Update transaction activity has been run the status of the transaction will change to Modify.

Icon "Generate Transactions" should only be used when setting up the terms in the beginning or changing the bank account interest terms.

If interest fixing needs to be modify. Then go to Modify view and select the bank interest transaction deal and mark the transaction/transactions that needs to be set to fixing status Missing. Then click on the three dots and choose Undo Interest fixing.