Specific Interest Income Management

The "Post Specific Interest Income Accruals to G/L" and "Bill Specific Interest Income" operations are performed for AR/AP included in the Specific Interest Income with the "Specific Interest Income Management" operation. It is located in the General Ledger Management/Operations menu.

The G/L slip type to be generated after the operation is selected through G/L Slip Type field on the Defaults tab. This field is mandatory.

The accrual records are generated according to the range specified in Date Range. If the calculated period end accrual date is not in the date range, the accrual record is not generated for that period.

The filters used for the report are as follows:

The "Post Specific Interest Income to G/L" operation is performed to post the specific interest income to G/L by the specific interest rates for the total outstanding liability in the specified date range for the AR/AP card included in the specific interest income. This transaction generates an Accrual Slip of the month end for the month by the debt closing date and the following months and a Reverse Accrual Slip for the beginning of every month following the month end.

Before generating the accrual slip:

• It is expected that the Debt/Credit Closing transaction is performed for AR/AP filtered before performing the "Post Accruals of Specific Interest Income to G/L" operation.
• It is checked whether there is a specific interest accrual slip of AR/AP for the date range before generating the accrual slip. A new accrual slip is not generated for the months in which there is a specific interest accrual slip.
• The accrual slip is generated only for the AR/AP whose status is "Active".

When generating the accrual slip:

• The accrual G/L slips are generated for the last day of the related month by considering the "Date Range" selected in the operation default. The reverse record is added for the accrual slip for the first day of the next month. 
  For example, the only accrual slip with a date of "January 31" is generated for the "01.01.2018-15.02.2018" date range and the number of days is calculated by January.
• The accrual G/L slips are generated as the "Daily/Journal" type in "Approved" status. The accrual slip reverse records are generated in "Draft" status.
• No changes can be made to the amounts for accrual slips and reverse transactions.
• The accrual slips to be generated are generated by the AR/AP and transaction currency. If an AR/AP has debt balance in multiple currencies, a separate accrual slip is generated for each transaction currency.
• The reverse accrual slip is the same as the exchange rate accrual slip.
• The unpaid specific interest invoices are also included in the calculation of the accrual slip amount.

After generating the accrual slip:

• The accrual slips do not affect the AR/AP balance and they are not displayed in the Debit/Credit records.
  
  

The "Bill Specific Interest Income" transaction is performed to generate the service sales invoice for the closed debt amount by considering the last calculation date for AR/AP included in the specific interest income.

Last Calculation Date: It is mandatory. It is accepted as the reference date. The interest rate of the specific interest invoice is calculated for the AR/AP payments between January 1 and the last calculation date, and the service sales invoice is issued. The specific interest invoice date is the same as the payment date.

Service Code: Used to specify the service code on the specific interest invoice line.

Department Code/Department Description: The invoices are generated for the department selected in this fıeld.

Transaction Result:

• The interest rate of the specific interest invoice is calculated for all AR/AP payments between January 1 and the last calculation date. It is reported to the user which debt transaction is closed by Debit/Credit closing transaction for the payment made. The interest amount is calculated on the amount paid based on the closed transaction information.
• The specific interest invoice is generated based on AR/AP and currency. If an AR/AP has a debt balance in multiple currencies, a separate invoice is generated for each transaction currency.
• The specific interest invoices are generated as the "Service Sales Invoice" in "Draft" status.
• The quantity of service in the invoice line is saved as "1".
• The day of payment is not included in the interest amount calculation.