COM125094 - Repayments / reallocations: non automatic repayments: repayment interest (Action Guide)
To calculate repayment interest manually, consider steps 1 - 4 below.
| 1. | Determine the . |
|---|---|
| 2. | Determine the date on which the repayment will be issued. |
| 3. | Use function RINT (Repayment Interest Calculation) to make the calculation by entering: |
| 听 | - the day after the material date |
| 听 | - the date on which repayment will be issued |
| 听 | - the amount of the repayment. |
| 4. | Add the repayment interest to the repayment that you make or use function DSET (District Set-Off) code 50881 to enter the amount of repayment interest on to the COTAX record. |