Interest Calculation Statement
How to View Interest Calculation Statement in SwilERP (RetailGraph)
How do you calculate interest on a statement?
The formula for calculating simple interest is I = P x R x T รท 100, where 'I' is the amount of interest, 'P' is the principal balance or the average daily balance, 'R' is the interest rate, and 'T' is the time in years.
What does interest calculation mean?
In the SwilERP software, the users can view the interest calculation statement in the 'Accounts' section. You can select details here interest on (debit/credit), interest rate, account or party name, and basis (monthly or yearly). This article will discuss how to do interest calculations, and you can view the interest information statement here.
Start with Login in the SwilERP dashboard to initiate the process:
- Go to the Accounts menu.
- Select the Interest Calculation Statement.
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How to view Interest Calculation Statement in the next appearing window:
- Go to the Home tab.
- Enter the "Rate" of interest to which you want to apply.
- Select the "Interest on" such as All, Credit and Debit.
- Select the "Basis" as in Monthly and Yearly.
- Select "Account" or party name from the drop-down list whose party's interest statement you want to view.
- Select the Date Range 'From to To', and details will show accordingly.
- Click on the View option.
- Now to save this window page, click on the Save tab.
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Note:- The user can view here Balance amount, No of Days, Interest amount, and Product amount also.
How to Print and Preview of this statement:
- Go to the View tab.
- Click on the Preview tab to view how to look printout after printing.
- You can set the printer to take the printout for that click on Print Options.
- To take the printout, click on the Print option, which is given in the "Home" tab.
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How to view the Next and Previous Statement:
- In the selected View tab.
- You can set Grid Layout if you want to view more columns of details.
- To view the Next and Previous statements click on them.
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