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FAQ-3 ( Interest Calculation):

Can I calculate the interest for each transaction separately?

Answer

 

Yes, you can calculate the interest for each transaction. Select the ledger for which the interest has to be calculated.

 

Use F11: Accounting Features to set Activate Interest Calculation and use advanced parameters to Yes.

 

 

Tally.Erp 9 : Interest Calculation

[5-3A]

 

 

Under Advanced Interest Parameters, set the option Calculate Interest Transaction-by-Transaction to Yes.

 

Set the option Override Parameters for each Transaction to Yes. The interest sub-screen is displayed for every transaction even if the interest parameter is specified in the Master. You have the option to modify the value for that particular voucher or accept the default template that is displayed.

 

Set the option Override Advanced Parameters to No, inorder to modify the interest parameters set during voucher entry. 

 

 

Tally.Erp 9 : Interest Calculation

[5-3B]

 

During voucher entry, the Interest Parameter sub screen is displayed after the bill-wise allocation sub screen.

 

 

Tally.Erp 9 : Interest Calculation

[5-3C]

 

The transaction-by-transaction Interest Report is displayed as shown below:

 

  

Tally.Erp 9 : Interest Calculation

[5-3D]

 

The same report with multiple interest rates in transactions is displayed as shown below:

 

  

Tally.Erp 9 : Interest Calculation

[5-3E]

 
 
 
 
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