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Custom Interest Calculation
Custom Interest Calculation
Custom Interest Calculation
In the window for
calculating custom interest
you can enter the custom amount of the principal, the interest of
which is then calculated on the basis of interest rates previously
entered in the panel for determining interest rates.
Lines - Data Used in Interest Calculation
| Document
| The ID of the document for which the interest are calculated. If you
specify multiple partial payments of the principal, they should have the
same document ID (see example above).
| Date
| The date on which the principal was changed. If speaking of the principal, then it
is its due date. If otherwise payment is in question, then it represents the date
of payment.
| Receiv./payab.
| Enter the amount of principal
representing the increased receivable for customer or increased payable to the supplier.
| Payment
| The amount (of partial or final) payment for the document. If
you are calculating interest on receivables, it is the customer payment. But
if you are calculating interest on payables, it is the
payment to supplier.
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Other Data
| Type of interest rate
| You can select it from the interest rate table, where are recorded the information
about corresponding interest rates. (Interest
Rates register ).
The information has to be entered. If the field is left empty, an error
message appears (see
The type of interest rate must be specified!).
| Nom. interest rate
| By default the
value of this field is "-1". Meaning that the annual interest
rate from the Interest Rates register is used. If the nominal
interest rate for a report is defined and fixed (it does not
change over periods), you can enter this interest rate directly to this
field.In such a case:
- by using conform interest-bearing method: The basic interest
rate from the table is used (see the description above). The nominal
interest rate is "skipped" in the report and annual interest rate
entered there is used. See also the example in the Rounded and
Unrounded Monthly Interest Rate topic.
- by using proportional (normal) interest-bearing method Here only
the nominal interest rate is used.
| Date To
| The date, which gets included in the interest-bearing period. Interest
are calculated from this day on.
- if you are calculating interest on receivables or payables, which are
still outstanding, the interest for these shall be calculated till this
date
- the interest on receivables or payables which have been already
closed is usually calculated later. If you checked the
 Calculate
Interest for Closed
checkbox, the interest on such receivables or payables will
thus be calculated till the date entered here.
|
 Calculate
Interest for Closed
| If checked,
you decide whether the To
(date) shall be used for closed receivables (see the description above).
| Subject
| You select the subject, for which the interest is being calculated. The
data is useful if the interest calculation is displayed as a document or
if the interest report shall be created.
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DATA ON OVERPAYMENTS AND PREPAYMENTS
Used for the same linked document and how they should be considered in
the interest report. If the overpayment or prepayment is related to the
same linked document, this shall regardelss of the selected option
effect the amount of the interest-bearing principal. Whether the
interest are calculated for this amount or not and in what way does this
influence the final interest report in practice depends on the agreement
between the contracting parties. For examples see
Data on prepayments and overpayments.
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See Taskbar for a general
description of its functions.
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