What is INTREP

Frequently Asked Questions (FAQ)

This process will action interest calculations, report and create accounting documents using data that was previously secured from the overnight housekeeping routines, including EQUITY /Combined statements.

INTREP will locate CLI accounts that have been maintained with Interest static (CLI/View/Integrated Interest) and are not junior members of an Interest Family.  The CLI static information determines what components of the EQUITY operation are to be used in determining the capital values to be used in the interest computation/reporting. CLI also maintains the details for producing accounting journals (IJ type).  The report can be run informally several times to prove the results and then a 'formal' (tick box on the selections page of INTREP) run should be actioned to produce the final report and any accounting documents.

If an account has been nominated as the Interest head-of-family, INTREP will use that accounts Interest static, and will include all of the family INTVAL details.

INTREP can be operated on departmental cash movements, which have been secured by the overnight. This feature is set up by Hivedome as an alternative to the CLI /Equity capture, but only for the entire company operations.

Interest rates are secured using IBR, which also handles simple interest calculation/reporting on a single capital amount.

The component values of the capital amounts can be reviewed and amended using INTVAL.

FAQ

1. Why does the report produce 'no references found' ?

a)       the CLI static is not setup correctly; use CLI/View icon on tool bar and follow the help? in the appropriate procedure. Ensure that the applicable ‘pay interest’ columns are ticked and which capital amounts are to be used

b)       there are no IBR rates for the selected currency/name/date range

2. What factors are used in calculation of daily interest?

a)       The capital amounts to be used are specified from CLI/View icon

b)       The number of days to be applied are a standard 360 except when currency code is either GBP or STG when 365 is used

c)       The daily rates are maintained in IBR