Overdraft Interest not calculating

Read here to learn why your overdraft interest isn't automatically calculating for you in your Working Plan

Updated over a week ago

Farm Focus will automatically calculate your Overdraft Interest in your Working Plan. To make this happen:

  • Go Settings > Bank Accounts.

  • Click on This account has an overdraft

  • Enter your overdraft limit

  • Enter your overdraft rate on an annual basis. The rate does not need to be exact.

You may find that t that switched with you from Cashmanager RURAL.

How to Fix:

If the interest rate is not calculating for you, it will be because you don't have the Overdraft interest code (INT:O) set up correctly in your Farm Code list.

  1. In Settings > Codes > Farm Codes scroll down to the Interest Category and ensure that the Category short code is INT for Interest. If not, click on the 3 menu dots to edit the shortcode to INT.

    Click Save to confirm your changes.

  2. Click to edit your Overdraft extended code and ensure that the shortcode is O for Overdraft. Scroll down to check that the KPI Reporting Group is correctly set as "Inherit from Category (Interest Payments)".

If you don't already have a code set up for your Overdraft payments you can follow the same process but instead of choosing Edit, you will choose to create a New Extended Code under the Interest Category.

As soon as the correct INT:O code is set up you will no longer be able to edit it. The three menu dots will not be available to select, and your Overdraft Interest will be automatically calculated in your Working Plan.

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