Monday, August 6, 2012

Interest Calculation ? from the Billing / Transaction Date


Interest Calculation ? from the Billing / Transaction Date:

Can we calculate the interest from the Billing/Transaction Date?

Yes, you can. 

Consider the transaction of Manchester Computers.

  

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:

  

The interest is calculated from the invoice date, i.e. March 1, till the report date.

To view the report:

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