on 07-16-2008 2:10 PM
How to customize compound interest calculation on bank accounts in the Bank Account Interest Calculation?
Hi,
The process for configuring the system to calculate Interest on bank account is as follows:-
1.Define reference Int Rates
2.Enter Interest Values
3.Prepare GL account balance interest calculation for interest posting
Then you execute F.52 for calculating the interest by providing the required parameters
Regards
Phani
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Hello,
Indeed it is, I use FF_1 which is the same transaction. The only issue is that for a US bank the interests are calculated daily and added to the principal. The day + 1 interest is calculated on that principal + previous day interest (and so on).
The compound interest is paid monthly.
Probably there is no easy way to solve this?
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