Mass Interest Update

The Mass Interest Update will allow you to update the interest rate of any account type, currently charging interest. This update is then universally applied to all debtors with accounts of that type.

**This is cannot be UNDone! If you are not sure of the effects that this will have on your system, please contact a support representative to discuss this before running.

Step 1: Navigate to Administration < Accounts < Mass Interest Update.

Step 2: The Mass Interest Dialog box will pop up

Step 3: Select the Account type to edit.  Current account interest settings are displayed.

Step 4: Select new Interest Options

Step 5: Select Effective Date: Run now or date which the interest should become effective.

Step 6: Click ‘OK’.