On the bank interest rates page, you can calculate the interest that you should receive and pay for your bank accounts.
You select the account, then the dates, for which the interest is to be calculated. This could for example be from January 1st. in one year, until January 1st. in the next year. That'll give you the interest rates for that particular year.
Then you choose to either get the result direct on the interest page, or you may wish to view the result in report format, with all the transactions, and individual interest rates.
Please note, that in order for the calculations to work correctly, the amounts, interest rates and intervals have to have been entered according to the rules explained in adding/editing transactions.
These buttons apply in the interest rates window:
- Calculate the interest for the account entered and the dates selected. The result is shown directly in the interest rates window.
- Calculate the interest for the account entered and the dates selected. The result is shown on a report on the screen. From there you can choose to print the report to a printer. The report contain all transactions with the interest calculated both individually and as a sum.
- This help page.
- Exit the interest rates window.
These fields have to be filled by you:
The account number of the account for which you wish to calculate interests.
The first date for which you wish to start the calculations.
The last date for which you wish to end the calculations.
You enter your account number 1234-4567-7890. And you select as date 1; 01-01-2001, and as date 2; 12-31-2001. This will calculate the interest for all of the year of 2001, when you either push the Go or the View button.
Please note, that the interest calculations cannot go beyond 1 year. Banks calculate interest at least once a year.