Tally Prime - Complete Accounting with Tally > Interest Calculation

Compound Interest Calculation in Tally Prime

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Overview
This video tutorial on Compound Interest Calculation in Tally Prime is a comprehensive guide on how to calculate interest in tally prime to the subject of compound interest. It provides a detailed compound interest calculation in tally prime step by step. It is designed for students and professionals who want to learn how to calculate compound interest. The tutorial has been taught by a professional accountant who knows the subject well. They have used their expertise to create an easy-to-follow guide that will help you calculate compound interest in Tally Prime accurately and quickly. Compound Interest Calculation Compound interest is a mathematical operation that shows the growth of an investment over time. It is calculated by multiplying the principal amount by the rate of return per period, and then adding one to the result. This calculation can be used with any financial instrument and any length of time, but it's most commonly used with bank accounts and savings accounts. The basic formula for calculating compound interest is given below: Compound Interest Formula: M = P(1+i)n Where "P" is the principal, "i" is the annual interest rate, and "n" is the number of compounding periods per year. The formula takes the 365-day calendar as a given. Compound Interest Calculation in Tally Prime Tally Prime is an app that helps you find the best interest rates for your savings. It shows you the best interest rate for a given amount of time, how long it will take to double your money, and how much money you will have at the end of that time. The compound interest rate is a mathematical function that shows how much money will be gained or lost over a certain period if compound interest is considered. This function also shows how much money would be gained or lost over a certain period of time if only simple interest were taken into account. This function can be calculated by multiplying the initial investment by the number of periods (in this case, years) to get the final value; then dividing that final value by the number of periods to get the interest rate.
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When you earn compound interest, you get interest not only on the money you put in, but also on any interest you earn. In other words, interest "compounds" when it is gained on top of interest.

  • Navigate to Tally Gateway > Accounts Info. >
  • Is it possible to turn on interest calculation? to the affirmative
  • What is the formula for calculating interest?
  • Include the transaction date when calculating interest.
  • Enter the interest rate.
  • As needed, select the Interest Style.

The amount of the debt should be multiplied by the number of days the payment is late, multiplied by the daily late payment interest rate in effect on the date the payment became overdue, to determine the interest due on a late payment.

By pressing F11 on the keyboard, you may get to the Tally Features Screen from the Tally Gateway. Enable the option to initiate interest calculation by typing 'Yes' in the company feature screen, as well as the option to keep bill-by-bill details: to the affirmative It's critical to have a plan. For a simple interest computation, set advanced parameters to No.

The tally prime can be used to calculate compound interest for any type of loan, not just a loan with an interest rate. It can also be used to calculate the growth of money over time and how much money will be needed at the end of any given period. This video tutorial will discuss compound interest calculation in tally prime for loans. We will also talk about some common mistakes people make when using the tally prime and how they can avoid them.

Tally is a financial software that helps you track your personal finances. It has a unique feature that lets you calculate the interest of a loan. Tally Prime calculates a loan's interest based on the principle and frequency of repayments. When you enter the amount of money borrowed, it will calculate how much interest will be charged on your loan. This tutorial at LearnVern will show you how to calculate interest in tally prime to the subject of compound interest.

Tally Prime can be used in many ways, such as calculating the interest rates on investments, loans, mortgages, and other financial products. For example, tally Prime offers its users an accurate way to calculate their compound interest. In addition to this, it also offers its users a way to save money by helping them make smarter decisions when they are investing their money.

The basic formula for calculating compound interest is given below: Compound Interest Formula: M = P(1+i)n Where "P" is the principal, "i" is the annual interest rate, and "n" is the number of compounding periods per year. The formula takes the 365-day calendar as a given.

Tally Prime is a Business Management software that helps small business owners manage their finances. This software has been around for quite some time and has seen many changes in how it functions. Tally Prime has a feature that allows users to calculate compound interest. This feature is helpful for business owners who want to find out how their investments are doing and how much they can expect in future returns. This video tutorial at LearnVern will briefly overview how compound interest works in Tally Prime.

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Reviews

R
Ranjit Kumar verma
5

nice explane and easy methode.

Rahul Ashok Patil
5

very nice

R
Ram Raju Yewle
5

Very good learning application 😸

A
Annu Rajput
5

Very easy & simple language to learn. A fresher student can also learn from this platform. Thanking you sir/mam to learn about these all courses to us.

B
Bramhanand Dhumal
5

Thanks Sir for stady helping

S
Somprakash Sarkar
5

Excellent , I think this is the perfect understanding friendly tally prime course .

G
GOVIND RAM
4

Hi Sir, My Name is Govind Sinah Add a Combine Quiz Tally and all Topic for batter knowledge

V
Vishal Rathore
4

Sir in case i have already a company than how can i access it

G
Gouri Shanker Jangid
4

Sir What to do if more than 100 bills of a party are taken together in pdf.

C
chirag agarwal
5

this course is better than offline course.

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Course Content

  1. Introduction to Tally Prime
    7m 7s

  1. How to Install Tally Prime
    10m 37s

  1. How to Create Company in Tally Prime
    8m 26s

  1. Understanding Masters in Gateway of Tally Prime
    11m 58s
  2. Understanding Transactions, Utility & Reports in Gateway of Tally Prime
    8m 29s

  1. Performing Accounting Transactions in Tally Prime
    13m 52s
  2. Assignment of Accounting transactions
    1m 59s

  1. Performing Business Transactions in Tally Prime
    16m 58s

  1. Generating Basic Reports in Tally Prime
    9m 53s
  2. Goto option in Tally Prime
    11m 52s
  3. Assignment of Business transaction & basic reports
    2m 36s

  1. Introduction to Inventory
    11m 27s
  2. Unit of Measure in Tally Prime
    3m 40s
  3. Stock Category in Tally Prime
    16m 40s
  4. Assignment of Inventory Setup
    1m 43s

  1. GST Introduction
    9m 3s
  2. GST Registration in Tally Prime
    11m 9s
  3. Manage HSN Codes and Tax Rates in Tally Prime
    7m 45s
  4. GST Number Structure
    5m 58s
  5. Determination of Tax
    6m 33s

  1. ITC Adjustment & ITC Set Off in Tally Prime
    15m 29s
  2. GST Return Forms with Example in Tally Prime
    14m 18s
  3. GST Setup & Inventory Setup in Tally Prime
    23m 4s

  1. Create Purchase Transaction in Tally Prime
    13m 40s
  2. Create Sales Invoice in Tally Prime
    15m 54s

  1. Generating GST Reports in Tally Prime
    16m 31s
  2. ITC Adjustment in Tally Prime
    17m 2s
  3. Assignment of GST Sales Purchase
    4m 45s

  1. Introduction to E-Way Bill
    11m 33s
  2. E-way Bill Using Tally Prime
    15m 1s
  3. Career as Data Entry Operator
    3m 4s
  4. Assignment of E-Way Bills
    2m 27s

  1. Banking Utilities in Tally Prime
    12m 30s
  2. Banking Transaction & Cheque Printing in Tally Prime
    23m 45s
  3. Other Transactions in Tally Prime
    18m 48s
  4. Bank Reconciliation in Tally Prime
    15m 54s
  5. Assignment of Banking
    3m 22s

  1. Cost Centre and Cost Category in Tally Prime
    26m 10s
  2. Predefined Cost Centre in Tally Prime
    14m 10s
  3. Assignment of Cost Centre
    3m 13s

  1. Simple Interest Calculation in Tally Prime
    27m 50s
  2. Bank Overdraft Interest Calculation in Tally Prime
    17m 16s
  3. Compound Interest Calculation in Tally Prime
    14m 28s
  4. Assignment of Interest
    3m 26s

  1. Introduction to Procurement Process
    15m 27s
  2. How to Record Purchase of Goods and Services in Tally Prime
    17m 50s
  3. What is pre close order in Tally Prime
    7m 38s
  4. Assignment of Procurement
    2m 36s

  1. How to Record Sales of Goods and Services in Tally Prime
    17m
  2. What is a Point of Sale in Tally Prime
    15m 19s
  3. Introduction to Godown Transactions in Tally Prime
    13m 47s
  4. Assignment Of Sales Process
    2m 44s
  5. Assignment of POS
    2m 31s

  1. Introduction to Manufacturing Process in Tally Prime
    23m 9s
  2. Manufacturing Process Transactions in Tally Prime
    21m 25s
  3. Understanding Manufacturing Process by Product in Tally Prime
    15m 20s
  4. Assignment of MFG Process
    4m 22s

  1. Item Cost Tracking in Tally Prime
    10m 1s
  2. Batch Details in Tally Prime
    16m 33s
  3. Assignment of Batch Detail
    5m 13s
  4. Assignment of item cost tracking
    1m 55s

  1. Manage Buying and Selling Prices in TallyPrime
    17m 45s
  2. Assignment of Price list
    2m 10s

  1. What is Multi - Currency
    8m 16s
  2. How to Record Multi - Currency Transactions in TallyPrime
    15m 51s
  3. Assignment of Multi Currency
    3m 13s

  1. Sales Promotion Scheme in Tally Prime
    19m 45s
  2. Record Expenses in Tally Prime
    14m 41s
  3. Assignment of Operating Ex.
    2m 56s

  1. Record Sale of Mixed Supply in Tally Prime
    22m 40s
  2. GST Report of Mix supply in Tally Prime
    16m 4s
  3. Career as Accountant
    3m 18s
  4. Assignment of Mix Supply
    3m 52s

  1. Introduction of Payroll with Tally Prime
    11m 29s
  2. Payroll Master creation in Tally Prime
    29m 6s
  3. Payroll Transaction in Tally Prime
    18m
  4. Payroll Statutory Report in Tally Prime
    14m 51s
  5. Assignment of Payroll
    3m 24s

  1. TDS Configuration in Tally Prime
    29m 9s
  2. Assignment of TDS
    4m 34s

  1. Financial MIS Report in Tally Prime
    23m 54s
  2. Inventory MIS Report in Tally Prime
    19m 51s
  3. Career as MIS
    2m 38s

  1. Versions of Tally
    7m 35s

  1. Course Summary
    3m 25s

  1. Interview Questions
    11m 37s

  1. Career Guideline
    51s
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