 Tally Features
Tally for Interest Calculation.
Completely definable Interest Calculation methods. Tackle you most complex - or simplest - calculation problems, with methods definable for each transaction (if you wish !). Vouchers support the concept of Effective Date (as different from the Date of Voucher Entry) to give you the most accurate and flexible Interest Calculation capabilities.
Comprehensive interest is available with the launch of Tally eis 5.4 Release 5. You can obtain reports on interest calculated by Tally based on the instructions you furnish. Interest calculations
can be done on either outstanding balance amounts , or on outstanding
bills / invoices / transactions (Receivable and payable). Tally gives you an exhaustive capability to obtain interest implications on both. You can select the rates and modes on interest calculations. Both simple and compound interest can be calculated.
For party accounts, you can configure exactly how you want interest to be calculated
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