Deposit Interest
Calculation
You can create an unlimited number of interest
types in the system and specify separate Liability/Expense accounts
for each.Interest can
be calculated against the principal or the principal plus interest.
The interest calculated can be accrued on the account or applied
directly against the balance.
Long-term interest can be prorated
over shorter periods.
Interest can be mass-calculated by
Deposit Type, Billing Cycle, single deposit or all deposits.
Closing interest is calculated
automatically when an account is closed.
Screenshot - Deposit
Interest Setup
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