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Loan Interest Calculation for 20 months

Former Member
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84

Hi Gurus,

I am giving personal loan to one employee Rs300000, the emi is 15000 for 20months, when i run the payroll, the system is calculate his emi for 20months & interest is calculate only for one year.

i want to deduct this empoloyee interest total 20months. Not for 1 year only.

Emi calculation is ok for 20 months but the interest calculation is rong

(i am using indian payroll. i check the company loan setting Loan types defination & Condition interest calculation method is 30/360)

Pls Advised

MHPO

Accepted Solutions (1)

Accepted Solutions (1)

Former Member
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Hi,

you need to look at the rule XLON or Custom rule which is commuting the Loan calculation and change as per your requirement.

Good luck

Om

Former Member
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hi,

SAP calculates the interested based on monthly diminishing manner. You can view the entire EMI & Intrest per month structure in the payment calendar till the maturity period.

Edited by: Rajesh T G on Dec 23, 2007 11:31 AM

Answers (2)

Answers (2)

Former Member
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HI,

What's wrong with it pls tell us.

Suppose an employee has taken loan of 100000 with 10000 as the installment then calculation is like (acc to 30/360 rule)

interest =principal * rate * 30/360

100000 * 0.05 * 30/360 = 416.67

Principal @ 5%

100,000.00 416.67

90,000.00 375.00

80,000.00 333.33

70,000.00 291.67

60,000.00 250.00

50,000.00 208.33

40,000.00 166.67

30,000.00 125.00

20,000.00 83.33

10,000.00 41.67

This is the calculation, hope this helps.

Reward if useful.

Tomesh

Former Member
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Plsease help me

Former Member
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HELP GURUS

MHPO