Interest is accrued on a lease deposit record if the following criteria are met:

• The lease is associated with a property within the selected ranges.
• The lease meets any conditions entered.
• The following is set up on the lease deposit (Tasks, Manage Leases, Change Lease, Deposit tab)
  • The Refundable check box is marked for the lease deposit record.
  • The Interest Rate ID is not blank. See How to set up or change Interest Rates in Property Management if you need to create or change the interest rate.
  • The Accrual Start Date is not blank.
  • The Accrual Start Date is before the Interest cut-off date you entered.
  • The Accrued Through Date is before the Interest cut-off date you entered or is blank.
• Interest has not already been accrued for the deposit for the same period of time.

Follow the steps below to accrue interest:

1. In Property Management, from the Tasks menu, select Deposit Interest, Accrue Interest.
2. Select whether you want to perform a trial run or create entries, and click OK.
   Tip: Select Trial run to preview the interest that will be accrued when you create entries.
3. Enter dates in the Interest Cutoff Date, Transaction Date, and Accounting Date boxes.
4. If you are creating entries and you want to post your entries now, select the Post entries check box. If you do not select this check box, go to Tasks, Post Entries later to post your accrue interest entries. The Post entries check box is not available if you are performing a trial run.
5. You can click Ranges to limit the properties to be included in the accrue interest process. You can also limit the deposit records included in processing by clicking Conditions.
6. Click Start to begin processing.
7. If you performed a trial run, review the Accrue Interest journal for accuracy. Make any necessary corrections to your lease and interest rate records, and then perform another trial run. After the trial run is accurate, repeat steps 1-6 above, and select Create entries in step 2.
8. Review and save the Accrue Interest journal for your records.