Tax Receipt Entry - Interest Calculation Detail Area

The table following the window example describes the fields in the Interest Calculation Detail Area for Tax Receipt Entry. This area displays the factors used to calculate the Interest Amount, which is displayed in the Tax Detail Area. Each line represents an existing tax detail transaction from Tax Billing for a specific Due Date. Tax charges for tax bills, previous payments, and other types of transactions can be included. The final line, which is labeled TOTAL Interest, represents the interest calculation for the payment you are currently entering.

Interest Calculation Detail Area Prompts Tip: To see more information about a field, click the hyperlink for the field name. Note: If multiple payments are made against a specific Due Date, multiple lines of detail appear.
From Date	Displays the From Date, which is stored in the INTCAL table for the specific Due Date.
Percent	Displays the Interest Rate Percentage from the INTCAL table.
Days per Year	Displays the Interest Days Per Year from the INTCAL table.
Due	Displays the Due Date for the tax detail transaction (from the Tax Billing module).
Tax Code	Displays the Tax Type Code for the tax detail transaction (from the Tax Billing module).
Amount	Displays the transaction amount for the tax detail transaction (from the Tax Billing Module).
Interest Date	Displays the Interest Date for the tax detail transaction (from the Tax Billing module).
Balance	Displays the Previous Balance for the Tax Account for the Due Date. Note: This is always zero for the initial tax charge transaction.
Days	Displays the calculated number of days against which interest must be applied. Note: This is always zero for the initial tax charge transaction.
Per Day	Displays the calculated interest amount per day. Previous Balance X [Interest Rate Percentage/100] / # Days Per Year = Per Day Example: 629.95 X [18.75/100] / 360 = 0.328 Note: This is always zero for the initial tax charge transaction.
Sub Total	Displays the calculated interest for the payment transaction on this line. Per Day X Days = Sub Total Example: 0.328 X 90 = $29.53 Note: This is always zero for the initial tax charge transaction.
Total	Displays the sum of the Total from the previous line and the Sub Total from this line. This amount accumulates if there are multiple payments for the Due Date. Note: This is always zero for the initial tax charge transaction.
	Closes the Interest Calculation Detail Window.