Interest Calculation in Tally Prime Step by Step Notes
Interest Calculation in Tally Prime Notes, Step by Step guide for self study. Interest is a legitimate return on money invested and chargeable in the business world on loans and also on delayed payments. Interest can be calculated on the basis of Simple or Compound Interest. Today, we will learn, activate interest calculation in Company and Sundry Debater Ledger. Further, check the interest amount at a particular date.
Activate Interest Calculation in Company
F11 : Company Features
Show More Features: Yes
Show all features : Yes
Accounting :
Activate interest calculation (Yes)
Activate Interest Calculation in Sundry Debtor Ledger
Create Ledger:- Ledger Name : ABC Pvt Ltd
Under : Sundry Debtors
Maintain bill by bill : Yes
Default Credit Period: 40 days
Check for credit day during voucher entry: Yes.
Activate Interest calculation: Yes.
New Window: Interest Parameters
Press F 12: Configuration
Use Advance Interest Parameters: Yes
Calculate Interest Transaction by Transaction: Yes
Rate 15 % per 365 days on Debit balance Only
Applicability: Past Due Date by 0 Days from Due Date of Invoice