Follow these directions if you need to record interest for a payment that is in a closed month.
First, you will need to create a reverse transaction entry to remove the interest from the payment GL.
1. Navigate to GL Journal Transaction Entry.
2. Select the month that the payment was recorded in and click OK. 
3. Type "+" or "NEW" in the Seq # and click enter to create a new journal entry. 
4. Enter the last day of the month that the payment was recorded in.
5. Write "GJ" in the Journal section
6. F4 in the Reference section and find the last journal entry - the reference you will use is the next one available in numerical order. (Each company may be different for the reference - just follow examples from before)
7. In the description, include information about adjusting the interest, and feel free to provide more details if you'd like.
8. For the GL do the GL of the payment that you are recording interest for.
9. Enter the amount of the interest.
10. Enter "Cr" so that the interest will be taken out of the GL Account.
11. Click Save
Next, you will record the transaction entry to allocate the interest to the interest GL account.
1. Type "+" in the Seq # box and click enter to create a new transaction entry.
2. Change the GL to the interest GL for the company.
3. Make sure that the Dr/Cr is "Dr" (or the opposite of the journal entry that you just created.
4. Click Save
5. Click File > Process Batch
6. Click Validate > Post
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