COM81023 - Interest: interest work lists: credit interest work list (CDIW) - debt management (Action Guide)

Initial action

Step 1

Establishing why the case is on the work list

Step 2

Checking the QP signal

Step 3

Calculating a manual interest charge for a non QP case

Steps 4 - 9

Calculating a manual interest charge for a QP case

Steps 10 - 13

Raising / Increasing a manual interest charge

Step 14

Reducing a manual interest charge

Steps 15 - 16

To delete a case from the CDIW work list

Step 17

Note: You cannot normally calculate Debit Interest (Word 31KB) or Credit Interest (Word 34KB) until after the normal due date (Word 49KB) for the AP. However, where the tax charge is nil, and all tax has been repaid then a credit interest charge can be raised before the due date.

1.

Use Function CDIW (Credit Interest work list) to display the work list, then select the entry that you want to work

2.

Select the [View] button to see all available details for the case including the reason for entry onto the work list

Note: The reason shown will reflect why the case was originally put onto the work list. It will only reflect any subsequent changes if the case has previously been deleted and the list has been re-populated with a new entry

3.

Use Function DAPD (Display AP Details) to check and note the current Quarterly Instalment Payment (Word 42KB) (QP) signal for the AP. Where the QP signal is ‘N’ go to step 4. Where the QP signal is ‘Y’ go to step 10

4.

Use Function VPPD (View Payment and Postings Details) to check the payment and interest position on the AP record

5.

If payments received on or after the normal due date (Word 49KB), credit interest is not due. Delete case from the work list

6.

If any payments received before the normal due date credit interest is due from the later of

• The EDP

Or

• The first instalment due date (Word 42KB) if the AP had been a QP case

to the normal due date

7.

To calculate the credit interest due you can use any of the following functions

• Function CINT - Compute Interest

Or

• Function DINT - Display Interest Computation

Or

• Function RMIC - Raise Manual Interest Charge

For further information on how to calculate and raise credit interest see the Action Guides ‘Clerical Calculation of Credit / Debit Interest’ (COM80084) in section ‘How Interest is Calculated’ in this business area

8.

If you need to raise a manual credit / debit interest charge go to step 14

9.

If a manual credit / debit interest charge is not appropriate go to step 17

10.

Use Function VPPD (View Payment and Postings Details) to check the payment and interest position on the AP record

11.

To calculate the credit interest due you can use any of the following functions

• Function CINT - Compute Interest

Or

• Function DINT - Display Interest Computation

Or

• Function RMIC - Raise Manual Interest Charge

For further information on how to calculate and raise credit interest see the Action Guides ‘Clerical Calculation of Credit / Debit Interest’ (COM80084) in section ‘How Interest is Calculated’ in this business area

12.

If you need to raise a manual credit / debit interest charge go to step 14

13.

If a manual credit / debit interest charge is not appropriate go to step 17

14.

To raise or increase a manual credit/debit interest charge use Function RMIC (Raise Manual Interest Charge) to calculate and post credit and / or debit interest. For more information see section ‘How Interest is Calculated’ (COM80000)

15.

To reduce a manual credit / debit interest charge prepare form AZ63 for authorisation by an Officer or above

16.

Once form AZ63 has been authorised use Function RMIC (Raise Manual Interest Charge) to reduce the interest charge

17.

Select the [Delete] button. The case will be deleted