Posting Interest and Discount Amounts
Interest
The interest amount specified on an incoming bank file is posted to the interest account on the bank account of the current entity.
The TC Payment and TC Interest fields in the payment record contain the full amount of the payment and the interest amount respectively.
GL Transactions View, Showing Interest Postings
Discount
The discount amount specified on an incoming bank file is posted to the discount account on the bank account of the current entity.
When the incoming bank file for the customer payment is processed:
• If a normal payment receipt and discount match the open amount for an invoice, the open amount is reduced to zero.
• If the payment receipt and discount amount are less than the open amount on the invoice, the open amount is reduced by the payment and discount.
• If the payment receipt (excluding interest) and discount amount are greater than the open amount on the invoice, the system does not process the payment.
• If no discount amount is specified and if the payment receipt is less than the open amount on the invoice, the open amount on the invoice is reduced by the payment.
• If no discount amount is specified and if the payment receipt (excluding interest) is greater than the open amount on the invoice, the system does not process the payment.
Where a payment is not automatically created, you must create a manual payment.
