Variable Rate Data Change

The Variable Rate Data Change transaction is used to override the variable interest rate and set a fixed interest rate for the account or it is used to return the account to variable rate processing.

Follow these steps to submit a Variable Rate Data Change transaction:

1. From the Accounting views, select the Variable Rate Data Change transaction from the Select a Non-Monetary Transaction drop down list.  The Variable Rate Data Change dialog is displayed.

2. If the variable rate processing is to be overridden select the Variable Override to Fixed radio button for the Type of Rate Change.  If variable rate processing is to be reactivated select the Resume Variable Rate radio button for the Type of Rate Change and skip to step 5.

3. Specify the Interest Rate for the account.

4. Specify the Effective Date for the interest rate.  The date may be entered in the appropriate format or selected using the Calendar widget.  The date specified may not be in the future.  If a date is not specified it defaults to the Current Processing Date.

5. Select the Save push-button.  The transaction is submitted to Recovery Accounting.  If the transaction posts successfully the dialog is closed and the originating view is displayed.  If the transaction does not post successfully, the errors are displayed in the Messages dialog.

6. To cancel the transaction, select the Cancel push-button.  When the push-button is selected, the dialog is closed and the originating view is displayed.