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Former Member
Mar 15, 2009 at 12:19 PM

Interest calculation

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Hi Gurus,

We are using FINTAP transaction for calculating interest and posting the same.

Now my only concern is that when staff is taking loan on

01.04.2008, system is calculating from 02.04.2008 and when they are

refunding part amount on 01.05.2008 the system is calculating from

02.05.2008 to 31.05.2008.

e.g.

1. Staff has taken loan on 01.04.2008 Rs.25000/-, system

calculates the interest from 02.04.2008, it should calculate from

01.04.2008

2. Staff when pays the installment of Rs.1000/- on 01.05.2008

system calculates interest from 02.05.2008 on (25000 -1000 = 24000).

Please help me to resolve this issue.

Thanks and regards,

Pras