Include/exclude date of transaction with Bank/Recon date and Date specified during entry

The option Include transaction date for interest calculations: For amounts added, For amounts deducted is provided in the Interest Parameters screen. This option allows you to exclude or include the transaction date for amounts added and deducted.

For example, a payment transaction is recorded on 1st April’16 and ‘Bank/Recon date is 03-04-16. post-migration, interest is calculated from 4th April’16.

Solution: To calculate interest based on the Bank/Recon Date, enable the following options in Interest Parameters screen,

Alter the bank ledger, set the options Include transaction date for interest calculation:

                                For amounts added?  set to Yes

                                For amounts deducted? set to Yes

To calculate interest based on the Date Specified During Entry   

For example, in the transaction, when the date is specified against Date Specified During Entry, interest is calculated from the next day.

Solution: Alter the bank ledger, set the options Include transaction date for interest calculation:

                                For amounts added?  set to Yes

                                For amounts deducted? set to Yes