Procedure for running interest calculation ( for the year 2009-2010)

Sanchaypost - Procedure for interest calculation/posting ( at HO)
Step 1.	Download the revised DB Analyzer Software. Run DB Analyzer software. Select ‘Database Discrepancies’.    1) Ensure that previous financial year Interest Entry (2008-2009) is made for all accounts. (‘Ledger entries without previous year interest entry’ option will list the accounts without interest entry). Login to Data Entry Module as Data Entry Supervisor and insert the interest transaction for the previous financial year (i.e. for 2008-2009) with the transaction date as '01/04/2009' and transaction type as 'interest'. 2) Ensure that account type is available for all accounts. (Account numbers with blank account type’ option) Login as Supervisor. Use 'Common -> Account type Conversion' form. Select the correct account type and save. 3) Ensure that ledger entries with Cleared Date as ‘01/01/1900’ are not available. (‘Ledger entries with LOT / Cleared Date as 01/01/1900’ option) 4) Ensure that account status is updated for all accounts. (Account numbers with blank account status' option) Select 'Database Discrepancies >> SB >> Account numbers with blank account status' option in DBAnalyzer and update the account status
Step 2.	Login as ‘Supervisor’ in on-line module.   1) Check interest rates in initialisation group. 2) Check the current financial year in the form (Form No.0410)  ‘Initialisation >> Financial Year – SB / PPF / NSS’  (Financial Year should be 01/04/2009 – 31/03/2010).
Step 3.	From the menu,   1) Select ‘Annual Interest Calculation’ form (Form No. 1305 / 1004 / 0904) to calculate interest for    SB / PPF / NSS. 2) Select 'IBB Report' option to generate IBB Report. 3) Select 'Annual Interest Calculation' option to carry out calculation.
Step 4.	After calculation is finished,   1) Check the error files in SP5\OT folder to view the accounts for which interest was not calculated. 2) If any of the errors listed can be rectified, rectify them. It would be advisable to rectify as many of the errors listed if not all and then re-calculate interest by selecting 'Annual InterestCalculation' option again, before interest posting. The process can be repeated any number of times till no accounts are listed in the error list. 3) Select the 'Annual Interest Posting' option to carry out interest posting.
NOTE:	1) Interest calculation should be performed at HO only, for all SOs except for MDG. 2) For SOs, interest calculation should be performed only after receiving and incorporating  all the Supplementary Dates’ transactions in SOSB module. 3) Ensure that the cleared cheque details received till 31/03/2010 are entered and posted. Also ensure posting of PPF cheques cleared till 31/03/2010 before posting PPF interest. 4) Interest if calculated and posted on any later date (after 01/04/2010) will also be appropriately posted in the ledger.
Can Interest Calculation be done after 1st of April?	Interest calculation for PPF can be done on any day after completion of transactions on the 31st of March and for other schemes it can be performed on any day after day begin has been performed for the 1st of April. Interest is posted (inserted) in the ledger with transaction date as per rules.

	Procedure for interest calculation/posting - Computerised SOs
Step 1.	The preparatory procedure for calculation/posting of interest is elaborated in the FAQ section above. The same steps should be carried out for the all the SOs under the HO.
At HO.	Calculate and post interest in the SOSB module for all the SOs.    1) When day-end is performed in the HO online module files are generated in the c:\HO_to_SO folder in the system in which day-end was performed. 2) Files will be generated:    a) only for SOs in which interest posting was performed on that day    b) only for SOs marked as computerised. 3) Files are NOT created for MDGs These files can be sent to the respective SOs for importing the interest and subsequently used for posting the interest calculated.
At SO.	1) Login as 'Counter' >> select group 'Day Begin/end' >> 'Import files from HO' >> 'SB interest Posting' and select the file to be uploaded. 2) To Post the interest login as 'SUPER' >> SB >> 'Annual interest calculation' >> 'Calculate Interest' >> 'Annual Interest Posting'
NOTE:	1) Service charges will be deductied automatically while calculation and posting of interest in SB accounts. 2) Service charges will be deducted in silent accounts if the balance is less than 50 after calculation and posting of interest. 3) The report for accounts from which service charges have been deducted can be obtained from DBanalyzer >> Reports or from Sanchay Post-Online Module >> Reports >> SB >> 'SILENT ACCOUNT with service charge deduction'