Running the Account Processes wizard tells finPOWER Connect to process automated Account Processes like calculation of Interest, Penalties and Fees, Documents and Statements, Arrears and Workflows.

Running Account Processes will do the following, (depending on your Companies Add-Ons):

• Create Statement logs according to an Account's Statement cycle
• Create Document logs based on Rules defined on the Account Types for things like New Account Letters and Overdue follow-up letters
• Calculate Interest transactions, including any Penalty Interest for Overdue Accounts
• Post Standard Transactions based on the individual transaction cycles
• Post Instalment Due transactions to Accounts
• Process any outstanding Workflow items
• Run any Scripts that have been defined to be processed with the Account Processes