how to calculate interest on loan based on opening bal of period

[Former Member]

Hi

We are currently calculating Interest on Loan on the closing balance after deducting installment of current month.

The new requirement is that the Interest is to be calculated on the Opening Balance of the current period.

How can we do the same adjustment. Please suggest.

Regards

[sikindar_a]

Can be some more specific with an example

[Former Member]

Loan Amount Granted is :------ 10000

EMI (Dedcuted from salary at the end of the month)------- 1,000.00

Loan Approved on 01.04.2009

Int Rate 10.00%

Interest Calculated (900010%)/36530

what we want (1000010%)/36530

We want that the system to calculate the Interest on 10000 i.e. the opening bal before deducting the installment for the current period.

[sikindar_a]

Hi

i think you want this logic at infotype level than check the option of USER EXIT

if u want this one aftr the pay roll process than we can do it with the help of the PCR

[Former Member]

HI Sikander

No we want this to happen before the payroll process. Can you please guide me further?

Regards

Spardha

[former_member583520]

Hi,

How can system deduct before the payroll process. With the opening balance.

How the system knows?? If you go user exist this it will works.

Thanks and Regards,

Revathi.