COM125094 - Repayments / reallocations: non automatic repayments: repayment interest (Action Guide)
To calculate repayment interest manually, consider steps 1 - 4 below.
1. | Determine the CTSA material date (Word 61KB). |
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2. | Determine the date on which the repayment will be issued. |
3. | Use function RINT (Repayment Interest Calculation) to make the calculation by entering: |
- the day after the material date | |
- the date on which repayment will be issued | |
- the amount of the repayment. | |
4. | Add the repayment interest to the repayment that you make or use function DSET (District Set-Off) code 50881 to enter the amount of repayment interest on to the COTAX record. |