COM128041 - Repayments / reallocations: repayment interest non automatic calculation of RPI (Action guide)
To calculate repayment interest manually and set off against COTAX consider steps 1 - 9. The guide is presented as follows
| Calculate repayment interest manually | Steps 1 - 4 |
|---|---|
| Set off repayment interest against COTAX | Steps 5 - 9 |
Calculate repayment interest manually
1. Determine the / .
2. Determine the date on which the repayment will be issued.
3. Use function RINT (Repayment Interest Calculation) to make the calculation using the following details:
- the day after the material date
- date on which repayment will be issued
- the amount of the repayment.
4. Add the repayment interest to the repayment that you make or see steps 5 to 9 if you wish to set the interest off against COTAX.
Set off repayment interest against COTAX
5. Use function VPPD (View Payments and Postings Details) to check the payment and postings record for the AP against which you intend to make the set-off. If a colleague has already made the set-off there will be a payment posting 바카라 사이트˜PYT바카라 사이트™ shown in Function VPPD with 바카라 사이트˜DSO바카라 사이트™ in the 바카라 사이트˜Notes바카라 사이트™ column.
6. If the set-off will make the receiving AP overpaid use function MAPS (Maintain AP Signals) and select 바카라 사이트˜Reallocations & Repayments바카라 사이트™ from the drop down menu for the Manual Inhibitions field. You cannot make a superseded AP overpaid.
7. Use function DSET (District Set-Off) to set off the interest. Make sure that you:
- enter the EDP as 바카라 사이트˜today바카라 사이트™s바카라 사이트™ date
- select 바카라 사이트˜Repayment Interest바카라 사이트™ or 바카라 사이트˜Repayment Supplement바카라 사이트™ as appropriate, as the duty type being set off from the drop down menu for the Type of Set-Off field
- allocate the amount to Interest otherwise COTAX will calculate Repayment Interest that is not due if this posting is ever repaid or reallocated at a later date.
See COM122010 for guidance on DSET codes.
8. Use function VPPD to check the results by looking for a 바카라 사이트˜PYT바카라 사이트™ posting endorsed 바카라 사이트˜DSO바카라 사이트™ in the 바카라 사이트˜Notes바카라 사이트™ column.
9. If you used function MAPS and selected 바카라 사이트˜Reallocations & Repayments바카라 사이트™ from the drop down menu for the Manual Inhibitions field at step 7 and you have since repaid or reallocated any resulting overpayment, use function MAPS to select 바카라 사이트˜None바카라 사이트™ from the drop down menu for the Manual Inhibitions field.