The Automated Interest Calculation batch process creates Interest Payment Request (IPR) documents 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 documents 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 document 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 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 Advantage Financial Accounts Payable Run Sheets guide for more information about how to run the Automated Interest Calculation chain job.