How do I add interest to a bank account?

Zenya Allen
Zenya Allen
  • Updated

You can record interest going in or out of bank accounts so your banking matches with your Bank Reconciliation on CFPwinMan.

  1. Double click Bank Accounts from the side menu
  2. Search for the relevant Bank Account using Search Text by Name, Code or Account Name
    1. Alternatively, find the Bank Account using the Information Column in the dropdown menu
  3. Click on the Bank Account
  4. Click on the Bank Interest tab
  5. In Recipient:
    1. Agency Account - If you have multi office switched on, select a Branch
    2. Landlord - With Unrestricted accounts you can log the interest against Landlords, but with a Restricted account, you only have the option to log it against the agency account
  6. In Interest Posting, enter the interest:
    1. Date of Receipt - Enter the same date which the interest was received at the bank
    2. Reference - Corresponding to the banks
    3. Description for statement - You may identify the interest by including the month which it corresponds to
    4. Amount - If interest is credited to your account, add it as a positive. If it was a debit out of your account, enter it as a negative amount
  7. Click Post Item

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Postings against Agency Account will appear in your Pay Agency fees to be paid out to your Agency Account.

Postings against Landlords on unrestricted accounts will appear on your Landlord Payment screen to be paid out to them on their next statement.