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FAQ-6 ( Interest Calculation):

How to calculate the interest from the Due Date of Invoice/Ref?

Answer

 

Consider the transaction of Manchester Computers.

 

 

Tally.Erp 9 : Interest Calculation

[5-6A] 

 

The Outstanding Report mentioned above displays the bill voucher date as March 1 and the due date as March 25.

 

 

Set the interest parameter as shown below:

 

 

Tally.Erp 9 : Interest Calculation

[5-6B] 

 

 

The interest is calculated from the due date of the invoice, i.e. March 25, (not from the voucher date) till the report date.

 

To view the report

 

Go to Gateway of Tally > Statements of Accounts > Interest Calculations > Ledger > Manchester Computers

 

    

Tally.Erp 9 : Interest Calculation

[5-6C] 

 
 
 
 
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