Interest Calculation Report

The Interest Calculation Report will calculate the yearly amount of interest accrued from the Resident’s Last Month Rent Deposit account. The report is accessible from e-Reports>Financial>Trust>Interest Rate Calculation.

Prerequisites and Setup 

Users must have permissions enabled to use the e-Reports.

Instructions

1. Select the date period to calculate. Note that since the interest rate is set annually, the date range should be within the same calendar year. (i.e., January 1, 2022 - October 30, 2022).

Tip: click on the date field to select the previous year.

2. Select the resident or leave blank for all residents
3. Enter the annual interest rate (for instance, enter 1.2 for 1.2%) with the provincially designated rate.
4. Choose GL Liability Account, leave as default for Last Month Rent Deposit account.
5. Run report