INT
Interest Charge

Interest may be charged to claims both manually and automatically. Manual interest may be entered anytime using this transaction. When you enter the transaction, the interest date will be brought forward to the transaction date and interest charges will be calculated to the transaction date.

 To enter an INT transaction:

Select INT from the Enter Transaction Code selection and click the button:

to display the Interest Charge - INT screen:

The field will reflect the date of your transaction.

CollectMax will automatically fill in the calculated interest amount in the field. You may choose overwrite this amount with a different amount.

The field displays the dated interest has been applied through. This date is reflected on the Claim screen as Interest Last Update.

The date should reflect the date you would like to calculate interest through. The field will default to today's date. If you change the date by typing, an OK button will appear to the side of the

Verify the date is correct and click the OK button. Notice the amount field will reflect a new amount based on this new date. You may also use the button to select the interest thru date.

Enter any notes regarding this INT transaction in the Note field:

Click to save this INT transaction. Note the changes on the claim tab reflecting the new interest amount and Last Update date.