6. Statement of Interest Due on Invoice in Tally.ERP 9
can calculate interest on eachinvoicefor the period it is outstanding,
wholly or partly. Transaction by transaction or bill-by-bill interest
calculation is permitted for 'Party' accounts like accounts falling under the
groups Sundry Debtors and Sundry Creditors. Bill-wise details should be active
for the company and the party.
report is similar to the Bill-wise Outstandings Statement. The last column gives the interest amount on the transaction. PressF1: Detailedto see the calculation.
Go toGateway of Tally > Display >
Statements of Accounts > Interest Calculations > Ledger
the ledger AccountXYZ Agency
is re-calculated with every change in balance outstanding. TheCrin the interest amount should not be
confused to mean an Income. It only means that it is payable and is a
liability. The figure is illustrative only and you will need to account for the
interest expense and liability through a journal entry.
ease interest recording, Tally.ERP 9 has an interest template, a special
voucher class inDebit NoteandCredit
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