Interest Rates

The Interest Rates register holds monthly and annual interest rates that are used in custom interest calculation, interest calculation by documents and interest calculation by payments.

It can be specified how interest should be calculated: type K - Conform (see Conform Interest Calculation - Examples for a more detailed treatment and examples), type P - Proportional (see Proportional Interest Calculation - Examples for a more detailed treatment and examples) .

ID	It displays the ID for this interest rate.
Round monthly interest rate	This checkbox is available only for the conform type of interest. If checked, the monthly interest rate will be calculated for the whole year and added to the annual interest rate, resulting in an aggregate annual interest rate for the selected period, rounded to two decimal places (e.g. interest on arrears). If unchecked, the monthly interest rate is not rounded (e.g. contractual interest). See also Monthly Interest Rate Rounding.
Type	Here you can select the type of interest rate: C - Conform - Pantheon will use conform method of interest calculation. P - Proportional  - Pantheon will use linear interest calculation.
Description	Here you can enter any given description of the interest rate table.
Valid From	It displays the start period date from which on (including) interest rates are valid.
Basic interest rate	Here you can enter the MONTHLY interest rate. It is used in interest calculation from including the first to the last date of the current month. You are allowed to enter the data with maximum of 6 decimal points. It is displayed in two decimal points.
Nominal interest rate	Here you can enter the ANNUAL interest rate. It is used in interest calculation from including the first to the last date of the current month. If the nominal interest rate is fixed for use in a specific report (it does not alter by periods), you can enter this interest rate directly in the custom calculation of interest. In this case: the basic interest rate that can be found in the table is used in conform  interest bearing,  the basic interest rate from the table is used (see description above), the nominal interest rate rom this column is "skipped" in calculation and the entered annual interest rate is used instead. See also example in topic Rounded and Unrounded Monthly Interest Rate. on the other hand the entered nominal interest rate is used in proportional (regular) interest bearing. You are allowed to enter the data with maximum of 6 decimal points. It is displayed in two decimal points.
	By clicking this button a report for the entered interest rate table is created.
	Besides general functions you can find in the wizards menu (see Wizards) some other functions used with the interest rate table: Import It enables import or said simpler copying of the existing interest rate table to some other one. Calculate basic interest rate a Calculate BIR window opens up after clicking it.

It is recommended that you enter the monthly and/or annual interest rate in conform interest bearing. It is wise if you enter only the annual interest rate in proportional interest-bearing method.

In conform interest calculation you can enter the following in the table:

• ONLY the basic interest rate - Example: You have entered only the monthly basic interest rate (BIR) in the column, as calculated and issued by the Bank of Slovenia. Calculations based on it will only revaluate the principals. It will not be possible for you to calculate real interest; ONLY the nominal interest rate - Example: Enter only the data on annual interest rate for interest on arrears in the column, as calculated and issued by the Bank of Slovenia. Using calculations based on it interest on arrears will be calculated from the principal by using a common annual interest rate. It is not required to enter the data to the column for entering basic interest rate.
• basic AND nominal interest rate - Example: You have agreed with the supplier for a credit for which baring of interest is done according to the monthly basic interest rate (BIR) and an additional 5 % annual real interest. Enter data on basic interest rate (BIR) in the first column and in the next one enter the nominal annual interest rate (5%). Calculations made based on this will revaluate principals and calculate real interest. You can also make use of this method in calculating interest on arrears so that you enter the monthly basic interest rate (BIR) in the first column. On the other hand enter the annual interest rate for interest on arrears in the next column, where revaluation factor has not been considered yer - for example see topic Calculate BIR.

We can download this register via internet (by using web service). See the instructions on Transfer Registers.

Data in the register can be most easily sorted by any criteria by left-clicking the column header (see Basics - Sorting Data ).

For general information of functions taskbar see Taskbar.