Interest on Arrears Calculation Report

From the Interest Transaction on the tenant account click the dot menu drop down, you will find an option to "Export Allocations" (Note - The export option will only be available on interest transactions created after this feature is rolled out). This feature will export the daily allocations done for the selected period that makes up the total of the interest capitalised and consist of the following two sheets:

1.  Arrears Interest Allocations

This sheet shows the daily eligible balances and daily interest calculated for every day in the selected period for a specific Tenant Account.  The SUM of all the daily interest allocations would be equal to the interest amount that was capitalised and billed for the period.

2. Landlord Income Transactions

This sheet shows all the Landlord Income Transactions for the specific Tenant Account for the Interest transaction in question.   It contains all the landlord income transactions related to the specific tenant account from the beginning to the date of the interest transaction, but it excludes any transactions on the Interest on Arrears category and any reversal transactions.

So, how is this useful?

It can be used to confirm the eligible balances for a specific day in the date range on the Interest Allocation Sheet. You just need to:

• add a column for a running balance (shown in grey below)
• add a formula in the running balance column to add debits and subtract credits to get the running balance for the next transaction
• the running balance for the last transaction on a specific effective date will be the eligible balance for that day in the date range (shown in yellow below), In this case it is R 16380. So in this case the eligible balance om 1 June is R 16380 and it remained that amount up to 8 June, the last day of the Interest period selected for the example.