Answer:
Now it is possible to calculate interest on closing balance for each date in account statement of personal accounts. Please use the following steps to implement this…
Step1: Setting the option
- Go to Main Menu > Master Data management > Account Ledger (M> A> A)
- Alt + L (it will open all account ledger list, you can create a new account ledger using Ctrl + N keys)
- Select account name from the list
- Put interest rate in ‘Interest Rate%’ filed
- Select calculation period in ‘Interest Rate Per’ field
- 30 days month
- 365 days
- Calendar Year
- Save
Step2: Viewing the report
- Go to Main Menu > Financial Management > Reports > Ledger Report (F> R>L)
- Select the Ledger name from the list
- F2
- Enter date range
- Alt + I (or you may use the ‘– I Interest’ button)
- It will open a report with interest details
For more details please visit: