The interest screens will help you control the way that Collections MAX calculates interest on your accounts.
To get to the interest screen, from the main control panel click Utilities / Interest
You can either select a particular portfolio by clicking the Select Portfolio button or you can load all of the accounts in the system by clicking Select All button.
Your selected accounts will appear at the bottom half of the screen.
Change interest percentage to – This function lets you change the interest percentage of either one or all of your selected accounts. Enter a percentage in the box and click the Mark One button (for a single account) or Mark ALL button (for all selected accounts).
DO NOT ENTER A percent ‘%’ sign.
Mark calculate interest as- This function can mark accounts that will have interest calculated on them. Select the corresponding radio button and click one of the Mark buttons next to them.
If YES then the account is marked to have interest calculated.
If NO then account will not have interest calculated.
You can click the Mark One button (for single account) or Mark ALL (for all accounts)
Calculate Daily Interest- This function will let you automatically calculate daily interest for the selected accounts. When you click this button you will see a popup box that says “Number of days to calculate interest”. Enter the number of days in the text box and click OK.
Your accounts will have interest calculated for those number of days.
Exclude Button – The Exclude button will remove a selected account from the data grid so it will not be processed.
Calc View Button – Shows information related to calculating interest.
Standard View – Default grid view.
View Interest Log – Shows dates that Collections MAX Scheduler calculated interest.