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Forgive Held Interest for Maryland Tax Billing

Forgive Held Interest for Maryland Tax Billing

Description of Issue

A bill has positive or negative held interest that needs to be removed. Held interest cannot be written off. It must be forgiven. 



Context
  • Enterprise Revenue Management

  • Maryland Tax

  • Property Tax Billing

  • Tax Bills (tmdbmtgn)

Cause

When taking a partial payment that does not cover the interest due as of the effective date, an option is given to hold the interest and collect it later. Alternatively, if the amount of interest paid exceeds the amount of interest due, then negative held interest is created. 

Resolution

Held interest cannot be written off. It must be forgiven. 

  1. Go to Property Revenue > Property Tax Billing > South > Maryland > Billing Other Processes > Tax Bills

  2. Click Add

  3.  Enter in Cat, Year, Bill Number, and Reason

  4. Click Accept

  5. Click Bill Detail

  6. Click on the charge code in the table below that contains Held interest

  7. Click Accept

  8. Click Update

  9. Go to Held Int Inst 1 OR 2 field under the difference column and enter a negative amount equal to the amount it needs to be reduced by to get the Held interest to zero 

  10. Click Accept

  11. Click Back

  12. Click Back

  13. Click Bill Post 

  14. Click GL Post

Additional Information

For additional assistance, please contact the Tax Billing support team.

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