Learn How to View Interest Calculation Statement in SwilERP Pharmacy Software

Interest Calculation Statement

How to View Interest Calculation Statement in SwilERP Software


What is interest, and how to Calculate it?

Interest is the method or technique to calculate the interest on a sum over time at a given interest rate. It is the most uncomplicated technique under which the principal amount remains constant, so you do not have to pay interest on the previously accumulated interest.


You can calculate interest on your due amount using the following formula for simple interest:

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. 


In the SwilERP software, there is an option in the Accounts section to view the Interest Calculation Statement. In this statement, you can view the interest as on All/Credit and Debit, Basis Monthly or Yearly, Interest Rate, Account or Party name, etc.


Start with SwilERP dashboard to initiate the process:

  1. Go to the Accounts menu
  2. Select Interest Calculation Statement.

Reference Window:-
SwilERP Dashboard Window

  1. How to view Interest Calculation Statement:

  1. Go to the Home tab.
  2. Select the interest on All/Credit/Debit.
  3. Select the Basis as annual or monthly.
  4. Enter the Interest Rate to which you want to apply.
  5. Select the Account name from the drop-down list and which account or party interest you want to view.
  6. Select the Date Range 'From to To', and details will show accordingly.
  7. Click on the View option.
  8. To save this window, click on the Save tab.
  9. Click on the Print tab to take the printout of this page.


Reference Window:-
Interest Calculation Statement Window

  1. How to view previous and next Interest Statement:

  1. Go to the View tab.
  2. You can view the Previous and Next interest statements in the 'Navigation' section.
  3. If you want to view more options in your statement, you can set Grid Layout.


Reference Window:-
Previous & Next Tab Window

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