ExpressTDS || Interest Allocation Process
Interest Allocation Process
Step 1: Navigate to Deductor Master
- Access the Deductor Master from the main menu.
- Select the relevant company or deductor. Go to Return Summary and choose the created return.
Step 2: View the Created Return
- Locate the View option next to the selected return. Click View to access detailed information about the return.
Step 3: Access Interest Allocation
- Find the Interest Allocation option: Within the return view, locate the Interest Allocation feature, which may be found under tools or a specific financial actions menu.
- Click on Interest Allocation: Selecting this option will open the interest allocation interface, allowing you to allocate interest either manually or automatically.
Step 4: Allocate Interest
Manual Allocation:
- Edit interest cells individually: For each transaction, click into the interest cell to manually assign or adjust the interest as required. This method provides full control over the amount allocated to each entry.
- Save your manual entries: Ensure each adjustment is saved, either automatically or by clicking a Save button, to confirm the entries.
Auto Allocation:
- Click on Auto Allocate: To automate interest allocation, select the Auto Allocate option. This will calculate interest based on predefined parameters within the software, such as dates or amounts.
- Confirm and proceed: After reviewing the automatically allocated amounts, click Proceed.
- Save the allocation: Once confirmed, click Save to finalize the allocation. This step ensures the interest amounts are recorded in the system accurately.
Step 5: Review Allocation
- Access the review option: If you want to verify or make changes to the allocation, click I Want To Relook. This will open the allocated interest entries for your review.
- Make adjustments as needed: Use this opportunity to confirm that each allocation is accurate. If needed, return to the manual or auto allocation steps to make any adjustments.
- Finalize the allocation: Once satisfied, close the review to complete the interest allocation process. The software will now use the allocated interest for any relevant calculations or reports.
This structured approach helps ensure accuracy, flexibility, and efficiency in the interest allocation process.
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