Post Investment Interest Payment/Post Investment Principal Paydowns
Access this screen by selecting whether to post to interest or principal, entering a branch and G/L and using Enter on the first Post Investment screen.
This screen is used for batch processing of investment income transactions with a single G/L account as the offset. Up to 250 different transactions can be entered; when 12 entries have been filled in, roll to display an additional 12 lines. As data is entered, periodically use Enter to display the member names which are connected to the account numbers entered. This feature allows you to check your entries as you go along (before posting).
Two versions of the screen exist, one to post payment and one to post interest, depending on what is selected on the entry screen, a version to post principle payments and a version to post interest payments. The Interest version has the option to allow you to post any additional monies to principle.
If you have elected to make principle payment on the first screen, select the investment ID and enter the principle amount.
If you have elected to make an interest payment on the first screen, select the investment ID and enter the interest amount paid. If there is accrued interest, it will appear on the screen. By default, any amount paid above the interest owed will be paid towards principle. The difference will show on the screen. You can select to uncheck the "Post Diff to Income."
You can change the Default Transaction Description to change the description for all payments or elect to just change the description for one payment by clicking the lock symbol next to the description on one line.
Only one payment can be made to a investment at a time. Multiple payments to the same investment at the same time are not supported.
When all entries are completed and verified, use Post/Create J/E (F5) to receive a summary window that shows the total number of Principal or Interest payments, as well as what the total amount of journal entry for investment payments, as seen below. When selecting to Continue from that screen, select a printer to which the subsequent posting report should be printed. You've successfully posted your investment payments! To verify, check Work with Journal Entries to confirm (Tool #61).