You may generate transactions for those Debtor accounts, which are overdue and have a percentage monthly interest entered in Debtors (Accounting information tab).

If this option is initiated, TurboCASH5.2 will calculate the Interest and generate the transactions. Once the batch has been posted, the Debtor accounts will be increased (debited) and the selected contra account (e.g. interest received - income account) will also be increased (credited).

To generate multiple transactions for interest on overdue debtor accounts:

  1. On the Default ribbon, select Batch entry (F2). 
  1. Select the Batch type (except Payment and Receipt Journals, which is linked to Bank accounts) and click on the Open button. 
  2. Enter the Alias (batch name) in the Change alias field. 
  3. Click on the F10:Setup icon and select the Contra account. This is the account to be credited with the generated transactions. This account should be an Income or Interest Received account.
  4. Press  or click on the F9: Process icon. The "Process the batch" screen will be displayed.
  1. Select the "Generate multiple transactions" option.
  2. Select the Interest on overdue debtors option. The screen will change to reflect the options for this option:

  1. Select and enter the following:
    1. Date for transactions - Enter or select the date for which the transactions should be generated.
    2. Contra account - Do not select.

The selected contra account is not stored. The contra account needs to be selected in the F10:Setup batch before balancing the batch.
    1. Number of days overdue - Enter the number of days the account is overdue. Note it is important that the correct number of days be entered here. TurboCASH 5.2 will use this to calculate the Interest amount.
  1. Click on the OK button. The Generate multiple transactions screen will automatically be closed and TurboCASH 5.2 will calculate the Interest and transfer the calculated interest transactions for the Debtors which have a monthly interest percentage entered in the Debtor account (Accounting information tab). The transactions will be imported into the selected batch. 
  2. Check the transactions and, if necessary, change the descriptions, etc.
  3. Click F10:Setup and select the contra account.
  4. Click F5:Balance to generate balancing entries to the contra account. 

Once you have finished entering / editing the transactions in the batch you need to: - 

  1. List the batch.
  2. Post the batch.