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Apply interest in TOPS [One] AR accounts receivable


TOPS [One] Version, Revision 0, last updated 05-25-2017

The AR Charges function gives you the ability apply charges to your owners’ accounts. The following steps will walk you through applying interest to your owners’ accounts.


  • Click AR Accounts Receivable and select AR Charges.
  • Click Actions and select Interest.
  • Under Function, ensure that Apply Interest is selected.
  • Under Post Date, enter in the date you want the prepaid to hit the owners’ accounts.
  • Under Scheduling, select This Time Only.
  • Under Settings, fill in the appropriate information
    • Delinquency Date – This field will be the date this transaction is posted to your owners’ accounts and the GL.
    • Days – Enter in the total number of days you’re applying interest for.
    • Interest Rate – Enter in your annual interest rate.
      • Note on Calculation – The program calculates the interest using the following equation: ( Annual Charges x Annual Interest x (Days/365)); where Annual Interest is Interest Rate, and Days is Days.
    • Under Owners, choose the appropriate selection.
      • All Owners – This option will select all of your owners.
      • Selected Owners – This option will open up the Select Owners table where you’ll be able to select individual owners.
        • Under Select Owners, select the owners that will be receiving interest charges.
      • Under Interest, select the type of interest you’ll be using.
        • Interest Based on Selected Account Codes – Choosing this option will open up the Codes table where you’ll be able to select which codes will be eligible for the interest calculation.
          • Under Codes, select all of the codes that are eligible for interest.
        • Simple Interest – Simple interest will calculate ALL charges, excluding interest charges.
        • Compound Interest – Compound interest will calculate ALL charges, including interest charges.
      • Click on Accrue (AR_Accrue.png).
      • Review the details of this transaction.
      • Finally, click on Post.
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