Use the following procedure to generate interest for a financial account in the Accounts grid under the FT tab on the Patron page.
1. From the Patron menu, select Search for Patron and perform a search for the patron for whom you want to view an account.
2. From the Patron List grid, click a row to select a patron.
3. Select the FT tab. The Accounts grid displays all accounts associated with the patron. Refer to the Accounts Grid Overview for information about each grid column.
4. Select the desired accounts in which interest will be applied. Alternatively, if no accounts are selected, interest can still be generated for all accounts.
5. Click Generate Interest, and select one of the following options:
Note: For interest to be generated for a patron account, the account must have an interest rate and grace period set, and the transactions must meet the associated interest generation requirements for the date the interest is generated.
•Generate Interest On Selected – This option generates interest for any selected accounts (except a Payment account). When clicked, the Generate Interest on Selected Accounts window is displayed.
•Generate All Charge Interest – This option generates interest for all regular accounts for the patron. When clicked, the Generate Charge Interest on Patron window is displayed.
•Generate All Deposit Interest – This option generates interest for any unapplied deposits for the patron. When clicked, the Generate Deposit Interest on Patron window is displayed.
6. In the At Date menu, enter or select the date in which the interest should be generated. By default, the current date will be displayed. Interest will be generated from the date of the original charge (or deposit) up to the date entered.
Note: Interest can only be generated for the current date or a past date.
7. In the Term menu, select the term associated with the interest generation, if necessary.
Note: Setting the Term is optional unless the Require Housing Term for Financial Transactions option is enabled in Odyssey HMS (Tools > Institution Settings > General)
8. Click Generate Interest.
9. When a charge or proration is generated for a contract item, the details from the Charge or Proration schedule, including calculations, will be entered in the Comments section when viewing the new interest transaction.