Interest Adjustment wizard, Enter Details

Select the Account to adjust

Account

Displays the Account being adjusted, the Account number is defaulted from the Account form and is read-only.

Interest Adjustment Transaction details

Create adjusting Interest transaction?

Tick if the purpose of the adjustment is to create an interest adjustment transaction. Leave the box unticked if you are using the wizard to only set a new 'Interest Backdated To' date.

The transaction will use the Element defined for Interest Adjustments in the Account Type

Date

Enter the date the Interest Adjustment transaction should be dated. This will default to today's date, but can be changed to match historical interest transactions.

Reference

Enter text to appear in the Reference column of the transaction list.

Value

Enter the amount of the Interest Adjustment transaction. An increase in the amount of Debit interest charged is a positive number, whereas a reduction in the interest charged should be entered as a negative number (e.g. -2.56).

Notes

Enter any relevant Notes; these will display in the Comments column of the transactions list.

Interest Backdated to

Date

Enter a past date to have finPOWER Connect recalculate interest from that date.

You can not backdate interest before the date of a previously created Interest Adjustment. A warning will appear on the form if an Interest Adjustment transaction has already been created.
This date box will only appear on the form if the Account Type setting 'Interest Backdating options, Backdating' is set to something other than None.

Other Options

Create Log?

Tick to create a Log of the adjustment in the next page of the wizard. If you leave this box unticked, click Finish to complete the adjustment.

Account Interest Adjustment, Enter details