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Aug 27, 2018 at 06:48 AM

IHC interest calculation


Hi All,

This is regarding IHC interest calculation for subsidiaries. The requirement is to calculate interest on month end balance at fixed rate for 30 days in subsequent month (i.e, for example balance on 31.07.2018 to be considered for interest calculation and account balancing done on 31.08.2018).

How can we get this mapped, does standard support this requirement of interest calculation in this month on the balance of the last day of previous month.

currently standard allows to calculate interest for current period (i.e. for current period interest is calculated on last day of this month).