Generating Interest Billings

Make sure all your projects that are going to have interest billings in Fund Control have an Interest Reserve line item in the budget with either a Yes or a No in the Intrst column on the budget

• • • If you have the predetermined dollar amount for interest reserve already accounted for in the budget for interest billings then you want to mark Yes in the Intrst column
    • If you do not have a dedicated dollar amount in your budget for the interest billing then be sure to put a No in the Intrst column

 

 

If you haven’t setup the Rate, Terms of Loans section yet go here

First find the Loans that you want to generate interest billings for, and then navigate to Loans > Overview > Advanced tab > Special tab > Interest tab > Estimated & Billing For tab

Click the Charge Interest button

• • • It will generate the interest reserve payments if you have the interest reserve amount already accounted for in the budget  and marked Yes for the Intrst column in your budget
    • It will generate interest billings that you can then print your billings for using the print button if you marked No in the Intrst column for your interest reserve line item

You will then get a popup window if you want to generate interest billings for the found set of loans or the current one – select the found set to generate them for your found set of loans