How to view Interest Calculation for group or sub group?
The Group Interest Calculation statement is a list of all accounts and sub-groups belonging to the selected group that displays the current balance in each account or sub-group and the total interest.
Go to Gateway of Tally -> Display -> Statement of Accounts > Interest Calculations -> Group
Select a Group e.g., Loans (Liability)
The credit in the interest amount should not be confused to mean an Income. It only means that it is payable and is a liability. The figure is illustrative only and you will need to account for the interest expense and liability through a journal entry.
To ease interest recording, Tally.ERP 9 has an interest template, a special voucher class in Debit Note and Credit Notes.
Drill down to the Ledger level Interest report.
© 2021 : www.tallyerp9book.com