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Interest on monies due to the Central Trust Account

 

The relevant interest rate to be charged is setup as follows:

 

- Maintenance, Property, Property Interest %.  Enter the annual interest rate, or a rate relative to the prime rate eg.  'P+2'

 

 

The interest is usually raised at the time that the Month End is run.  It is calculated for a full month, on the balance at the date that the month end is run.

 

Interest is raised as follows:

 

- Administration, Monthly Routines, End of Month Menu, Charge interest to properties

 

Interest raised in this way will always be posted to the Billing Period (Next month)