![tally 7.2 interest calculation tally 7.2 interest calculation](https://www.tutorjoes.in/img/interest_perameters.jpg)
Set the option Override Parameters for each Transaction to Yes, to change the parameters while recording vouchers.Now you may want to include the invoice amount and exclude the received amount, for the purpose of calculating interest on 1st April 2020. 50,000 on 1st of April 2020, against which an amount of Rs. For example, for a sundry debtor ledger, there was an invoice raised for Rs. This option allows you to exclude or include the transaction date for amounts added and deducted.
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The option Include transaction date for interest calculations: For amounts added, For amounts deducted is provided in the Interest Parameters screen.Set the option Calculate Interest Transaction-by-transaction to Yes.In the party ledger, set the option Activate interest calculation to Yes.Select the required details in as needed.Ĭalculate Interest Transaction-by-TransactionĬalculation of interest can be done bill-by-bill for accounts grouped under Sundry Debtors and Sundry Creditors.
![tally 7.2 interest calculation tally 7.2 interest calculation](https://help.tallysolutions.com/wp-content/uploads/2020/09/activate-license-tally.gif)
If Calendar Year is selected as the interest style, then the rate of interest will be calculated on 365 days or 366 days, depending on the number of days as per the calendar. Note: If the interest style selected is 365-day Year, then the interest will be calculated for 365 days irrespective of the number of days in the calendar year. The rate of interest will be calculated on the basis of the interest style applied. Select the Interest Style, as required.This can be enabled For Amounts added and/or For Amounts Deducted. Set Include transaction date for interest calculation, as needed.Bank/Reco Date will be displayed in Bank Reconciled Transactions report.Voucher Date will be displayed in the Ledger Interest report.The option to calculate interest based on either Bank reconciliation date or voucher date will be displayed for ledgers grouped under Bank Accounts, Bank OCC A/c and Bank OD A/c. In the Calculate Interest Based On field select the Date Type, as required.Set the option Activate interest calculation to Yes.
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