Calculation of Secuirty Deposit Interest

[Former Member]

Hello All,

For interest calcualtion for security deposit i created a seperate key and maintian the interest rate . But i am confused what to apply for 'int cal method' in the node of interest calculation rules when i want to apply this formula : Principal * rate of interest/100* actual number of days /365 or 366 depending upon the leap year.

I have tried all the available combinations and all are giving me wrong values.

Please anyone guide me in this.

Regards

Charvi

[Former Member]

Define Default Values for Cash Security Deposit Interest Calc. (Online)

SPRO:-

Financial Accounting (New) u2013 Contract Accounts Receivables and Payable u2013 Business Transactions u2013 Security Deposits - Define Default Values for Cash Security Deposit Interest Calc. (Online)

Define Specifications for Cash Security Deposit Int. Calc. (Mass Proc.)

SPRO:-

Financial Accounting (New) u2013 Contract Accounts Receivables and Payable u2013 Business Transactions u2013 Security Deposits - Define Specifications for Cash Security Deposit Int. Calc. (Mass Proc.)

On-line

Document type : Security Deposit intrest document type

Clearing restriction 2 = Security Deposit: No Clearing Permitted

Mass

Document type: Security Deposit intrest document type

Pmnt.terms due = blank (due date will be determined in invoicing)

Regards,

Siva

[william_eastman · Accepted solution]

Charvi:

It would seem that you can use either method 4 (Act/366) or 6 (Act/ActY) to meet your requirements. Noth of these would return the exact number of days in the year to be used for your calc purposes.

regards,

bill.