Setting up interest groups
Since version 93, it has also been possible to accrue interest on financial accounts periodically.
In
Finance/Maintenance/Interest groups , you can manage the rates and counter accounts that form the basis for such posting.
Interest calculation
For balance accounts, interest is calculated based on the end-of-month balance, while for operating accounts, interest is calculated based on the month's movements.
Setup - Chart of accounts
To use the interest group, it must be linked to one or more financial accounts, see below
Description of buttons on the ribbon
| Button |
Button description |
| Add record |
Add a new interest group |
| Delete record |
Edit an already created financial account |
| Save your changes |
Save your changes |
| Refresh |
Reload interest groups |
| All fields |
Displays all fields in the current account and the content of these fields. |
Description of fields
Below is a description of the fields that can be seen under the interest groups
| Field name |
Field Description |
| Fee code |
Short reference and unique identification of interest group. This code is assigned as the interest group on the financial accounts that should have the interest rate calculated. |
| Name of the interest group |
The name of the interest group |
| Counter account |
The counter account where the calculated interest should be posted, typically interest expenses |
| % |
Interest rate - Annual |
| Deactivate |
Temporarily disable interest group - when interest is added, it will not be calculated on accounts that use this interest group |
| Account |
It is also possible to attribute the interest to another account, which means that the interest function can also be used for e.g. periodic allocation of costs. |
Add interest
Once the setup of interest groups and chart of accounts is complete, you are ready to add interest.
Read more here