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Relative Interest Rate

Relative Interest Rate

Relative Interest Rate

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000001.gif To calculate interest on receivables/payables using relative interest rate select type P - Relative Interest Rate in the interest rate table!
000001.gif To calculate interest using relative interest rate method we normally use the annual (nominal) interest rate - for example see Definition of Relative Interest Rate Calculation. Thus:
  • Having entered both the monthly AND annualized interest rate in the interest table, ONLY the annualized interest rate is used (On the other hand, confer effective interest rate calculation, where both interest rates are used.).
  • If JUST the annual interest rate is entered, it will be used. Moreover, having entered monthly interest rate, this one will be used.

 

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000001.gif ZTo see examples of the effective interest rate calculation see Effective Interest Rate and Comparing Relative and Effective Interest Rate Calculation.

 

You can use the same interest calculation rates both in the custom interest calculation and interest calculation by documents or payments. The only difference being that in the custom interest calculation you enter principals manually. On the other hand, principals and any subsequent changes are for the other two types of calculations located on subject accounts or general ledger.

Common characteristics can be represented with the following examples:


 

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