If you plan to pay an annual dividend on shares or periodic or annual interest on other savings, this program should be used to calculate the dividend or interest due to each member. This is an essential pre-requisite, prior to posting via [Dividend and Interest posting]. Performing the calculation is extremely simple. First, chose Dividend or Interest. Secondly, chose the relevant product and date range for the basis of the calculation, then click calculate. You may also wish to include/exclude members by means of their status. The system has a default percentage and increment, but these can be altered.
The calculation comprises of two phases. The first phase is a concatenation of our database tables. As a user you do not need to be too concerned about this phase, although it would be advantageous not to be processing during this process. The second phase is establishing the average balance during the time frame chosen.
Upon completion a summary of the total dividend based on the starting percentage and increments will be shown. A print function offers a more detailed analysis, member by member.
You can redo the calculation as often as you require. But the final calculation will record the parameters to be used for posting. A flag is associated with each member to be included in the automatic posting routine. This can be over-ridden by the user using member financial maintenance.