The Automated Interest Calculation batch process creates Interest Payment Request (IPR) transactions to record interest on the Disbursement Request (DISRQ) table. This allows you to review, assess, and refute interest payments and track 1099 eligibility. The Automated Interest Calculation Chain selects specific disbursement transactions for which interest has not previously been calculated and using very specific criteria calculate interest on those disbursements.
Automated Interest Calculation batch process is initiated if the Calculate Interest Outside of Disbursement flag is checked on the System Options (SOPT) table. If this flag is not checked, the basic interest processing is performed by the Automated Disbursement (AD) chain.
Disbursement records are only processed by the Automated Interest Calculation batch process if they are eligible for interest and when the Automated Interest Processing Completed flag on the AD/EFT/MD Header is unchecked (set to False). If the Interest Ineligible flag is unchecked (False), the record will be evaluated for interest. It will be calculated for interest if the Automated Interest Processing Completed flag is unchecked (false). This ensures that the disbursement transaction has not been processed previously by the Automated Interest Calculation batch process. If a record is selected to be processed by the batch process, the Automated Interest Processing flag will be checked (set to True) once the processing is completed for that record.
The Disbursement Cash Management Options (DCMOPT) table contains options based on Fiscal Year that is used by the Automated Interest Calculation batch process. The fields are used by the batch process during the calculation of the Interest Amount and to set values for the default Interest Object field on the IPR transactions.
Payment Scheduling and Interest Control (PSIC) table is used for the calculation of the Interest Amount during the Automated Interest Calculation batch process. When records are added to this page, these fields are required: Transaction Code, Fund, Fund Group and Payment Type. For any combination of these fields, at least one must contain a value other than a wild card vale of ALL (or D for Default on the Payment Type field). The accounting line of the Payment Request and Interest Payment Request transactions contains the Payment Type field. If the Payment Type is entered on those transactions, the value is validated against PSIC page filtered by Fund, Fund Group rollup on the Fund table and Transaction Code. For ALL values on the Fund, Fund Group or Transaction Code fields, all Fund, Fund Group or Transaction Code values will be included on the Pick List and for the validation.
The Automated Interest Calculation chain job contains three batch jobs. For detailed information on the chain job (such as input, output, and process parameters), please refer to the associated run sheet in the CGI Advantage Accounts Payable Run Sheets guide for more information about how to run the Automated Interest Calculation chain job.