GFEBS Debt Management Correct Questions & Answers

Treasury Reporting: Reason Status Codes - ANSWER Reason Status codes assist with the preparation of the TROR. Reason Status codes indicate the state of the debt throughout the debt lifecycle and assist the accounting system with determining how to categorize the debt. Changes in the reason status code occur through business events or are manually entered into the accounting system. These changes also occur via interfaces from entitlement and revenue systems When is interest applied? - ANSWER Interest is applied 30 days after the debit notice due date (i.e., day 31). Additional interest will accrue for each 30 day period until payment is received. The interest calculation program is automatically executed on a daily basis, but only updates the account