Navigation:  Loan Screens > Account Information Screen Group > Reserves Screen Group > Account Reserve Detail Screen > Reserve Payment tab > Reserve 1 and 2 field groups > Accrued Interest

Entry: User, numeric

F/M: Yes

Mnemonic: LNR1AI, LNR2AI

Screen: Loans > Account Information > Reserves > Account Reserve Detail > Reserve Payment tab

 

This field contains the amount of interest accrued on the first Reserve Balance when your institution pays interest on reserves. The system will supply this information for you based on the following calculation.

 

Balance X Rate X Number of Days / 365

 

“Balance” is based on 365/365 simple interest from transaction to transaction like a payment method 6 loan. It is calculated from the date Last Accrued to the latest transaction date on the reserve balance at the reserve rate. You are also able to file maintain the field if necessary.