Yesterday , I have explained the different steps for calculation of interest in tally 9 .
Today , I want to tell more explanation of interest calculation in tally 9 . Tally 9 software uses both simple interest calculation formula and compound interest calculation formula . With tally 9 we can calculate both interest payable and interest receivable . Interest payable is calculated on amount of loan and interest receivable on the amount which is given as loan by us to other organisations .

You must need to understand that why interest parameter is included in tally 9's interest calculation's features . It is simple to understand that tally 9 requires some information from you so that tally automatically apply simple 10th class formula of calculation of interest for loan given or taken by concern .

You must also need to understand that after passing the voucher entry tally 9 will not calculate interest if you want to see at a time then you can change the period which have earlier you had fixed in ledger creation under interest parameter . After this you can see tally 9's automatically calculated interest . You can also it calculate from excel by using dollar formula .

The following organisation use this facility :-

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Accounting Education: More Explanation of calculation of interest in tally 9
More Explanation of calculation of interest in tally 9
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Accounting Education
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