Group Interest Calculation @ Tally.ERP9

Query

How to view Interest Calculation for group or sub group?

Answer

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)

Interest Calculation for group or sub group

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.

 
Company Information @ Tally.ERP9
 
 
 
Group & Ledger
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Interest Calculation
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