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Interest Lock

Former Member

‎04-11-2015 8:11 PM

0 Kudos

Does Interest lock ever stop interest calculation on Security Deposit Payments?

Interest locks on Account should stop interests on all items however it never stops credit interest from being posted - is that how it is designed to work as security deposit interests should be paid due to legal requirements regardless of utility preference.

1 REPLY 1

AmlanBanerjee
Active Contributor

‎04-12-2015 5:06 AM

0 Kudos

Shewta,

As per Standard SAP, the interest lock field at Contract Account level is only designed to stop the Late payment charge (debit Interest on Overdue items).It doesn't consider the SD Down Payment for blocking interest.

To Stop the interest calculation for the SD payment-

(a) Place the interest lock at the line item against the SD payment and then it will not calculate the Credit interest.

(b) If you want to stop the interest calculation for the SD payments, considering the interest lock field at the Contract account field, then you have to enhance event 2015 and raise exception ITEM_BLOCKED, for items which have the interest lock field active at contract account level.

Hope it helps

Thanks,

Amlan