Interest and Repayments – Uniconta

Interest and reminders are used when you want to calculate and post interest or send reminder fees to customers. You can find the menu item for this under Accounts receivable/Reports/Interest and reminders Note! If you don't see the menu item Accounts receivable/Reports/Interest and dunning, it's because the function is turned off in the Interest and dunning field under Company/Maintenance/Turn functions on and off. Note! You cannot send interest and reminders as OIOUBL/GLN in our standard Uniconta. Note! If you use the Balance method on your debtor, you cannot send reminders. Here you can use the bank statement if necessary.

Videos / Interest notices and reminders

In these videos, you can see how interest and reminder fees and more are added: Dunning procedure Accrued interest

Open items on accounts receivable

Before calculating interest and reminders, it is recommended that you review all open items on debtor accounts. This can be done under Accounts receivable / Reports / Open items by sorting the items by customer number and then checking if there are invoices that can be offset against payments. From the open items overview, you can jump to the debtor with F6 in the Account field and select the Open items button, where you can clear open items that have not been cleared when posting payments, credit notes etc. posting payments, credit notes, etc. Under Debtor/Reports/Open items you can e.g. group open items by account. Read more about "Group by" in layouts here. Read more about equalizations here.

Add interest

Fill in the From and To due date and select the Search button
The overview now shows all open debtor items within the selected due dates.
If necessary, deselect the items that should not have interest added using the Remove item button and/or the Filter button
Select the Add interest button and enter the desired interest percentage and interest date and select OK. Select that it should be per entry, as collection per account may need to be selected when transferring to the draft.

All entries in the list will now have an interest rate calculated in the Fee size field. Note! If you want different interest percentages for different customers, you need to make multiple filters and run the interest assignment procedure per interest rate.
Change the value in the Show printout to external field if you want to print interest notes
Select the button with the small printer icon in the top right corner and the interest notes will print on the screen so you can flip through them and/or send them to your printer.
Select the Send as email button to email the interest notes to your debtors. The Date of last interest note field is updated with today's date, so you can check this field the next time you accrue interest. Read more about the Send as email options in the description of this pop-up menu at the top of this article.
Select the Transfer to draft button to transfer the interest amounts to an accounting draft so that the amounts are posted to the debtors. When transferring the interest to the accounting draft, you can choose whether the interest amounts should be transferred per item or per account. If you choose per account, only one line is created in the accounting journal per debtor with the total interest amount. Note! Any negative interest calculated on payments/credit notes is included in the total interest amount transferred to the draft. I.e. the interest per debtor is the balance of the debtor * interest rate. If you transfer the interest amounts per entry, only interest amounts on invoices are transferred, i.e. negative interest amounts on credit notes/payments are not transferred to the draft.

Send reminders

Note! It is recommended to create reminders per currency if you want to accrue reminder fees, as reminder fees can only be calculated for one currency at a time. Note! The reminders must be created in chronological order, but you can choose which reminder to start with. I.e. if you start your reminder procedure with a reminder 1, you can specify this when creating reminders. If you have open debtor records that have been remindered in the old way in vers. 89 and earlier, you need to find the debtor's open records and insert the Last reminder field and manually fill it with the last reminder you created for this record. This is necessary because the new reminder function in Uniconta will automatically present the next reminder after this one when this item is next reminder.

Fill in From due date and To due date and select the Search on tape button
The overview now shows all open debtor records within the selected due dates
Deselect the records you do not want to move using the Remove record button and/or by filtering out these records using the Filter button

Select the Add reminder button and enter/fill in the following fields and select OK:

Pr. Date	Select which date to move the records. Note! If there are no more days than the last reminder date + the number of days specified in the Days since last reminder field, the New reminder field will not be filled in on the item, which means that the item will not be reminder this time.
Reminder fee	Enter a reminder fee in the Reminder fee field if applicable. Check the Reminder fee box if you also want to apply a fee to reminders. Note! If you want to assign dunning fees and you have debtors in currencies other than your default currency, you need to dunning all these debtors in a "pile" separately, i.e. filter them first and then enter the desired dunning fee + currency in the field for the fee. Note! It is optional whether reminder fees and collection fees should be added. If you fill in the currency field next to the fees, only open items in the selected currency will have a reminder fee added.
Collection fee	Enter a collection fee in the Collection fee field if applicable. Read the description above regarding the Reminder fee field in relation to currency etc. You cannot choose to attribute only the collection fee. If you only want to attribute a single fee, it must be the reminder fee.
Fee for reminders	If this field is unchecked, no fees are applied to reminders, only to the other reminders.
First mover	The reminder codes are assigned in chronological order, starting with the reminder code selected in this field. For example, if you don't want the first reminder created on a record to be a reminder, select Reminder 1 in this field.
Per	Choose whether customers should be charged any reminder fees per item or per account/per reminder code. For example, if there are 3 open items for a debtor and the fee is set to DKK 100, then a fee of DKK 300 will be added for 'Posting' (DKK 100 per item), and DKK 100 will be added for 'Account' (DKK 100 on the first item). If there are 3 open items for a debtor, where 2 of the items have reminder code Reminder 1 and the last item has reminder code 2, and 'Account' is selected, then 2 x DKK 100 reminder fees will be added, as the reminder fee is per account per reminder code.
Reminders	In this field, select which reminders you want to create in connection with this run.

All items/customers in the list will now be assigned a Dunning fee in the Fee size field depending on whether you selected per account or per item.
In the New reminder field, you can see which reminder will be created for the individual entry. If there is an item you don't want to move, you can select the Remove item button and have the item removed.
Select the button with the small printer icon in the top right corner if you want to print your reminders. You will be asked if you want to update the entries with "Last reminder". If you answer No to this, the resulting printouts will be considered "Drafts/Proforma reminders".
Select the Send as email or Send email from Outlook button to email the reminders to your debtors. Read more about the options under the description of the Send as email button elsewhere in this article.IMPORTANT! Do not select the Update button until you have transferred any reminder fees to your accounting journal. Select the Transfer to journal button to have the reminder fees transferred to an accounting journal so that the amounts are posted to the debtors. When you transfer the fees to the accounting journal, you can choose whether the fees should be transferred per entry or per account. If you choose per account, only one line is created in the accounting journal per debtor with the total reminder fee. In the Counter account field, select the financial account to which the fees should be posted. In the Text field, you can select texts you have created under Finance/Accounting and the Fixed texts button, so that this text is used on all entries created in the accounting journal.
When you refresh the screen after the reminders have been sent by email or printed, the Reminders field is updated with +1, so you can see how many times you have sent reminders for the current item. The Last reminder field is updated with the reminder that was sent/printed and the Last reminder field is updated with the date. In the Reminder log under, for example, Debtor/Reports/Reminder log , you can see a log of when an item has been reminder, by whom and with which reminder code. Read more about the reminder log later in this article.

Formation of both interest and reminder

These are two separate runs, where interest must first be booked and then the accrued interest can be moved.

Version 90 - Last Mover update

In connection with version 90 of Uniconta, the way in which reminders are attributed has changed. The function is more automated than before, and a new field called Last reminder has been added to the open debtor records, where you can see which reminder was last created for the debtor for the current record. If you have open debtor records that have been moved in vers. 89 or earlier, these records are missing a value in the Last reminder field. However, the Dunning field is updated with how many times the record has been dunned, and the Last Dunning Date field is also updated with when the record was last dunned. The missing value in the Last Dunning field must be manually updated before dunning can be created in vers. 90 with the desired reminder codes. Therefore, you need to do the following to update this field:

Select Accounts receivable/Reports/Open items
Insert the fields Reminders, Last reminder and Last reminder date. The fields can be inserted with ALT+F
In the Reminders field, you now filter so that you only see open items with a value in this field. This can be done by hovering over the field's Header and clicking the small funnel that appears and selecting '(Values)'
Now select the Edit All tab and the Edit All button
Fill in the Last reminder field with the name of the reminder that matches the number in the Reminders field. I.e. if you have entries with a value of 1 in the Reminders field, enter Reminder in the Last reminder field. If you have items with a value of 2 in the Reminders field, you enter Reminder 1 in the Last reminder field, etc. It is possible to use the "Assign new field value" function together with a filter on the Reminders field, so you can update several items at once if you have many open items that have previously been reminders.
Select the Save button on the ribbon.
Now create reminders as it is done in version 90 and onwards. See description below.

Jerk log

Under Debtor/Reports/Interest and dunning/Dunning log , a log of who and when an open debtor item has been dunned is displayed. The reminder log can also be viewed via the button of the same name from the Debtor overview as well as from debtor entries and open debtor entries. Note! If you can't see the menu items for reminders, this may be due to a missing checkbox in the Interest and reminders field under Company/Maintenance/Turn functions on/off

Printing/previewing interest notes/advice letters to screen/printer

In the top right corner of Uniconta, you can select a small icon with a printer on it to print the interest notes/printer letters to the screen. Remember to select External in the Show printout field before selecting the printer button. Once the printouts have been created on the screen, you can now send the printouts to print, save them to your PC, etc. Note! Only if you select Yes to update "Last reminder" when printing, the fields Last reminder date, Last reminder, Reminders will be updated. Send email from the preview From the Preview screen, you can also choose to send the form as an email. But if you do this, the fields for last reminder etc. will NOT be updated.

Description of fields

Selected fields are described below.

Field	Field description
New mover	In this field you can see which reminder will be issued to the customer when issuing new reminders. If the value in the field is deleted, this entry will not be included when you issue a reminder.
Last reminder	In this field you can see which reminder was last sent to the customer on the current record.
Last reminder date	In this field you can see the date you last reminder your customer for this item.
Reminders	In this field you can see how many times you have reminder the customer for this item.

Description of buttons

Description of the buttons under Accounts Receivable/Reports/Interest and reminders

Button	Button description
Remove record	If you don't want to calculate interest or attribute reminders on the current record, remove the record from the overview by selecting this button. Note that the record is not deleted on the debtor, but only removed from the current reminder/interest process.
Physical attachment	Shows any associated physical attachment.
Refresh	After changing or correcting an interest or reminder, press Refresh to see the latest updates. Note: This will bring lines that have been removed with Remove record back into the window.
Filter	Here records can be filtered.
Clear Filter	Reset "Filter" so that values set in "Filter" are removed.
Layout	You have the option to save, delete, edit or recall a saved layout.
Add interest	Enter the desired interest percentage and the date of interest accrual. Read more about this below.
Add reminder	Enter the desired reminder fee etc. Read more about this below.
Transfer to journal	Select this button to transfer the calculated interest or reminder fee amounts. Read more about this below under the description of the interest and reminder procedures.
Send as email	This button is used to send the interest or reminder letters by email to debtors using the default email settings. These are set under Debtor / Maintenance / Email Setup. Alternatively, you can enter an email address. With this sending method, the fields Last reminder, Reminders and Date of last interest note are always updated. When printing, you can choose whether you want to update these fields or not. All: Interest notices and reminders are sent to all customers in the overview. Marked lines: Interest notes or reminders are only sent to the customers and with the items previously selected by holding down the ctrl key and marking the lines with the mouse. Current item: Only an interest note or reminder is sent to the customer on the current line and only with the current item. This means that if there are several items in the reminder list for the same debtor and you select Current item, only the current item will be included in the reminder letter to the customer. Note! The interest notices and reminder letters are sent to the debtors' contact persons who have a mark in the reminder or interest notice respectively. If a contact person has not been set up to receive interest notices and reminders, the email will be sent to the debtor's invoice email instead. If you get an error message: "No lines found" when trying to send via email, read here...
Send email from Outlook	When this button is used to send interest notices or reminders, the email will open in Outlook with the attached document, and you must manually press send in Outlook to send the email.