Bank Earned Interest Factor Calculation

Navigate: Tax > Levy Management > Factor Calculations > Bank Earned Interest Factor Calculations

Description

Use this task to perform interest calculations for TIF and TAF based on the selected tax year.

Steps

1. On the Calculate Bank Earned Interest screen, make a selection from the Tax Year drop-down list.

2. Make a selection from the Bank Earned Interest Instance drop-down list, or click New to create a new instance.

   • Enter a description for the instance and click OK.

NOTE: If the Locked checkbox is selected, then the instance has been finalized and locked from further editing. Your selections in the drop-down lists are used to filter the results in the Original Charges tab.

3. In the Values tab, make a selection from the TAF and TIF drop-down lists.

4. Click Search.

5. In the Original Charges tab, click Edit at the end of the row for an item in the grid.

   • In the Opening Charge pop-up, enter an amount in the Override field.
   • Optionally, enter a note for the charge.
   • Click Save to close the pop-up.
   • Click Cancel to close the pop-up without saving changes.

6. Click Calculate in the Command Item bar. The Calculation tab opens automatically.

   

• When calculation processing is complete, click the History tab to view a detailed history of the calculations.

• Optionally, make a selection from the Iteration drop-down list.

7. Click the Log tab to view a log of calculation events.

• In the Filter field, enter all or part of a word to filter the log results.

• Click Errors Only to view a log of errors.

• Click Download Log to download a text file log.

• Optionally, make a selection from the Iteration drop-down list.

8. Click the Files tab to view files from the calculations.

• Click on a file to open or save it.

9. Click Finalize in the Command Item bar.

   • Click Close to end the task.