Description of Issue

Would like to know why the Over-Short Adjustment Process program does not allow for writing off interest due from a bill.

Context

Over-Short Adjustment Process
Bill Inquiry
Invoice Inquiry
Invoice Entry and Proof

Cause

Informational.

Resolution

Interest due on a bill is represented by a system calculation made on-the-fly, taking into account the interest effective date, the interest rate, and the installment or due date. In other words, interest due is dynamic and always in process until paid, at which point the on-the-fly calculation is made and a static interest paid amount can be represented on the receipt and in the CRP journal. Once the principal amount of the bill has been written off, however, an on-the-fly interest calculation is no longer possible, and by extension, writing-off interest due via Over-Short Adjustment Process is also not possible.

For held or committed interest on a bill, the process for removing these amounts is forgiving as opposed to writing-off. For more, see: Forgive Interest.

Additional Information

Browser not supported