Actions

This section shows the Actions available in the Change Interest Charge Selection workspace.

Top Tab

Field	Description
Create Interest Selection	When you select this action, an interest charge selection is created for the current company-specific customer. As implied, an interest charge selection is only a selection. This means you can only change created selections in this window. When you select the action “Approve Interest Selection,” an interest charge notice journal is created with entries for the customer and G/L ledger respectively. Once approved, the interest charge selection cannot be changed. Maconomy calculates interest charges based on the interest charge/reminder principle of the current company-specific customer. Interest charges are only calculated if the invoice balance of the current company-specific customer is greater than zero. If this is the case, all open payment and credit memo entries are summed up in a combined total and all invoices with overdue amounts are checked one by one is order of due date. When the balance is greater than zero, that is, payments and credit memos cannot cover the invoices, the interest charge calculation is initiated. When all invoices have been checked, Maconomy checks whether or not the interest charge amount total exceeds the interest charge limit. If this is not the case, the interest charges are removed from the entries. If the interest charge limit has been exceeded and the interest charge total is less than the minimum interest charge, the minimum interest charge amount is used. When calculating interest charges, the interest charge amount and the assessment date is stamped on the entry in question.
End Interest Calculation	When you select this action, interest charge calculations are removed from all selected entries on the company-specific customer. The field “Current Interest Charge” in the card part of the window is also reset to zero.
Approve Interest Selection	When you select this action, the current interest charge selection for the company-specific customer is approved. Once approved, the selection cannot be changed, but a selection can be created. Upon approval, all interest charge entries are added to an interest charge notice journal which is then ready for posting in the window Posting in the G/L module. If the selection has been created in the window Interest Charge Selection, the interest charge notice, and thereby the posting in the customer G/L ledger is stamped with the selected assessment date. If the selection has been created using the action “Create Interest Charge Selection,” the interest charge notice and posting is stamped with today’s date. At the same time as the selection is approved, an interest charge notice is printed.