Activating Interest Calculation Activating Interest Calculation The feature\' Interest Calculation\' can be activated for any ledger

in Tally.ERP 9. The Interest Calculation Report in Tally.ERP 9 gives only the implication of interest for the selected account. The amount is not charged to the books of account until an entry is passed. To enable \'Interest Calculation\' for a Ledger: Go to Gateway of Tally . F11 (Features) Activate Interest Calculation Yes

Select the ledger for which the interest calculation needs to be activated from the Ledger Alteration screen and set the option Activate Interest Calculation to Yes. Note: This option can also be enabled for a new ledger during the ledger master creation. In the Interest Parameters sub screen, specify the rate of interest and select the Interest Style. On enabling Interest Calculation for Ledger, the screen is displayed as shown below:

Types of Interest Calculation Styles There are four types of Interest Styles available in the Interest Parameters screen, which are as follows: 30-Day Month Calendar Month 365-Day Year Calendar Year