PENC charge code not calculating Interest in June

After processing the June Town Bill Update, the PENC charge is not calculating 5% Interest as of 6/1 or in June entirely.

PENC Charge code only accruing 1% of Interest as of July 1.

• NY Property Tax Billing

• Accounts Receivable

• Town Bill Update

• Suffolk County, NY

• Bill Inquiry

• Charge Codes

The June Town Bill Update creates the PENC adjustment with a 6/1 Effective Date. Interest does not accrue until after 6/1, but because the first Trigger Date is set to accrue 5% Interest on 6/1, no interest will accrue in June. 

Development is currently researching the issue.

Current workaround is to update the first Interest Trigger Date on the PENC Charge Code to start on 6/2. This will allow 5% to begin accruing as of 6/2. Note - doing so will still not allow any Interest to accrue on 6/1. Contact Enterprise ERP Tax Support for further assistance.