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A/R: Calculation of Interest on Arrears

In this step, you define the specifications for posting the interest calculated as interest on arrears.

The account determination is carried out via the posting interface of application 0002 (interest on arrears). The following specifications are necessary:

First you determine which account determination keys are used. For the business transaction account determination key, 1000 (interest earned) and 2000(interest paid) should be entered. The other account determination keys (company code, interest indicator, business area) are optional. You use them if you want to define interest posting in more detail.
For every combination of the account determination keys, you specify a debit posting key, a credit posting key and account symbols (posting details). You use the account symbol 1000 for the customer posting. It is not necessary to specify an account since the posting is made to the customer account. You do, however, have to specify the posting keys.
For each G/L account symbol, you specify the account allocation for interest earned and interest paid in full. You can differentiate the account specifications according to currencies.
In the Goto menu option you can define a document type for posting the interest. In the standard system, the document type DA is defined for posting interest.

Activities

Make the necessary specifications for posting the interest.