How can we calculate interest in Tally?

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.

Course Content

Introduction to Tally Prime

7m 7s

How to use LearnVern

3m 20s

How to Install Tally Prime

10m 37s

How to Create Company in Tally Prime

8m 26s

Understanding Masters in Gateway of Tally Prime

11m 58s

Understanding Transactions, Utility & Reports in Gateway of Tally Prime

8m 29s

Performing Accounting Transactions in Tally Prime

13m 52s

Assignment of Accounting transactions

1m 59s

Quiz : Tally Prime Basic Accounting Transaction

Performing Business Transactions in Tally Prime

16m 58s

Generating Basic Reports in Tally Prime

9m 53s

Goto option in Tally Prime

11m 52s

Assignment of Business transaction & basic reports

2m 36s

Introduction to Inventory

11m 27s

Unit of Measure in Tally Prime

3m 40s

Stock Category in Tally Prime

16m 40s

Assignment of Inventory Setup

1m 43s

GST Introduction

9m 3s

GST Registration in Tally Prime

11m 9s

Manage HSN Codes and Tax Rates in Tally Prime

7m 45s

GST Number Structure

5m 58s

Determination of Tax

6m 33s

Quiz : GST Introduction

ITC Adjustment & ITC Set Off in Tally Prime

15m 29s

GST Return Forms with Example in Tally Prime

14m 18s

GST Setup & Inventory Setup in Tally Prime

23m 4s

Quiz : Adjustment of ITC Liable Payment

Create Purchase Transaction in Tally Prime

13m 40s

Create Sales Invoice in Tally Prime

15m 54s

Quiz : GST Transaction

Generating GST Reports in Tally Prime

16m 31s

ITC Adjustment in Tally Prime

17m 2s

Assignment of GST Sales Purchase

4m 45s

Introduction to E-Way Bill

11m 33s

E-way Bill Using Tally Prime

15m 1s

Career as Data Entry Operator

3m 4s

Assignment of E-Way Bills

2m 27s

Quiz : E-Way Bills

Banking Utilities in Tally Prime

12m 30s

Banking Transaction & Cheque Printing in Tally Prime

23m 45s

Other Transactions in Tally Prime

18m 48s

Bank Reconciliation in Tally Prime

15m 54s

Assignment of Banking

3m 22s

Quiz : Banking

Cost Centre and Cost Category in Tally Prime

26m 10s

Predefined Cost Centre in Tally Prime

14m 10s

Assignment of Cost Centre

3m 13s

Quiz : Cost Center

Simple Interest Calculation in Tally Prime

27m 50s

Bank Overdraft Interest Calculation in Tally Prime

17m 16s

Compound Interest Calculation in Tally Prime

14m 28s

Assignment of Interest

3m 26s

Introduction to Procurement Process

15m 27s

How to Record Purchase of Goods and Services in Tally Prime

17m 50s

What is pre close order in Tally Prime

7m 38s

Assignment of Procurement

2m 36s

Quiz : Procurement Process

How to Record Sales of Goods and Services in Tally Prime

17m

What is a Point of Sale in Tally Prime

15m 19s

Introduction to Godown Transactions in Tally Prime

13m 47s

Assignment Of Sales Process

2m 44s

Assignment of POS

2m 31s

Quiz : Sales Process

Introduction to Manufacturing Process in Tally Prime

23m 9s

Manufacturing Process Transactions in Tally Prime

21m 25s

Understanding Manufacturing Process by Product in Tally Prime

15m 20s

Assignment of MFG Process

4m 22s

Quiz : Manufacturing Process

Item Cost Tracking in Tally Prime

10m 1s

Batch Details in Tally Prime

16m 33s

Assignment of Batch Detail

5m 13s

Assignment of item cost tracking

1m 55s

Quiz : Item Cost Tracking & Batch Detail

Manage Buying and Selling Prices in TallyPrime

17m 45s

Assignment of Price list

2m 10s

Quiz : Price List

What is Multi - Currency

8m 17s

How to Record Multi - Currency Transactions in TallyPrime

15m 51s

Assignment of Multi Currency

3m 13s

Quiz : Multi - Currency

Sales Promotion Scheme in Tally Prime

19m 45s

Record Expenses in Tally Prime

14m 41s

Assignment of Operating Ex.

2m 56s

Quiz : Scheme Discount, Actual Bill & Operating EX

Record Sale of Mixed Supply in Tally Prime

22m 40s

GST Report of Mix supply in Tally Prime

16m 4s

Career as Accountant

3m 18s

Assignment of Mix Supply

3m 52s

Introduction of Payroll with Tally Prime

11m 29s

Payroll Master creation in Tally Prime

29m 6s

Payroll Transaction in Tally Prime

18m

Payroll Statutory Report in Tally Prime

14m 51s

Assignment of Payroll

3m 24s

Quiz : Payroll

TDS Configuration in Tally Prime

29m 9s

Assignment of TDS

4m 34s

Quiz : TDS

Financial MIS Report in Tally Prime

23m 54s

Inventory MIS Report in Tally Prime

19m 51s

Career as MIS

2m 38s

Quiz : MIS Report

Versions of Tally

7m 35s

Course Summary

3m 25s

Interview Questions

11m 37s

Career Guideline

51s

Compound Interest Calculation in Tally Prime

Tally Prime - Complete Accounting with Tally Interest Calculation

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Discussion

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Course Content

Introduction to Tally Prime

7m 7s

How to use LearnVern

3m 20s

How to Install Tally Prime

10m 37s

How to Create Company in Tally Prime

8m 26s

Understanding Masters in Gateway of Tally Prime

11m 58s

Understanding Transactions, Utility & Reports in Gateway of Tally Prime

8m 29s

Performing Accounting Transactions in Tally Prime

13m 52s

Assignment of Accounting transactions

1m 59s

Performing Business Transactions in Tally Prime

16m 58s

Generating Basic Reports in Tally Prime

9m 53s

Goto option in Tally Prime

11m 52s

Assignment of Business transaction & basic reports

2m 36s

Introduction to Inventory

11m 27s

Unit of Measure in Tally Prime

3m 40s

Stock Category in Tally Prime

16m 40s

Assignment of Inventory Setup

1m 43s

GST Introduction

9m 3s

GST Registration in Tally Prime

11m 9s

Manage HSN Codes and Tax Rates in Tally Prime

7m 45s

GST Number Structure

5m 58s

Determination of Tax

6m 33s

ITC Adjustment & ITC Set Off in Tally Prime

15m 29s

GST Return Forms with Example in Tally Prime

14m 18s

GST Setup & Inventory Setup in Tally Prime

23m 4s

Create Purchase Transaction in Tally Prime

13m 40s

Create Sales Invoice in Tally Prime

15m 54s

Generating GST Reports in Tally Prime

16m 31s

ITC Adjustment in Tally Prime

17m 2s

Assignment of GST Sales Purchase

4m 45s

Introduction to E-Way Bill

11m 33s

E-way Bill Using Tally Prime

15m 1s

Career as Data Entry Operator

3m 4s

Assignment of E-Way Bills

2m 27s

Banking Utilities in Tally Prime

12m 30s

Banking Transaction & Cheque Printing in Tally Prime

23m 45s

Other Transactions in Tally Prime

18m 48s

Bank Reconciliation in Tally Prime

15m 54s

Assignment of Banking

3m 22s

Cost Centre and Cost Category in Tally Prime

26m 10s

Predefined Cost Centre in Tally Prime

14m 10s

Assignment of Cost Centre

3m 13s

Simple Interest Calculation in Tally Prime

27m 50s

Bank Overdraft Interest Calculation in Tally Prime

17m 16s

Compound Interest Calculation in Tally Prime

14m 28s

Assignment of Interest

3m 26s

Introduction to Procurement Process

15m 27s

How to Record Purchase of Goods and Services in Tally Prime

17m 50s

What is pre close order in Tally Prime

7m 38s

Assignment of Procurement

2m 36s

How to Record Sales of Goods and Services in Tally Prime

17m

What is a Point of Sale in Tally Prime

15m 19s

Introduction to Godown Transactions in Tally Prime

13m 47s

Assignment Of Sales Process

2m 44s

Assignment of POS

2m 31s

Introduction to Manufacturing Process in Tally Prime

23m 9s

Manufacturing Process Transactions in Tally Prime

21m 25s

Understanding Manufacturing Process by Product in Tally Prime

15m 20s

Assignment of MFG Process

4m 22s

Item Cost Tracking in Tally Prime

10m 1s

Batch Details in Tally Prime

16m 33s

Assignment of Batch Detail

5m 13s

Assignment of item cost tracking

1m 55s

Manage Buying and Selling Prices in TallyPrime

17m 45s

Assignment of Price list

2m 10s

What is Multi - Currency

8m 17s

How to Record Multi - Currency Transactions in TallyPrime

15m 51s

Assignment of Multi Currency

3m 13s

Sales Promotion Scheme in Tally Prime

19m 45s

Record Expenses in Tally Prime

14m 41s

Assignment of Operating Ex.

2m 56s

Record Sale of Mixed Supply in Tally Prime

22m 40s

GST Report of Mix supply in Tally Prime

16m 4s

Career as Accountant

3m 18s

Assignment of Mix Supply

3m 52s

Introduction of Payroll with Tally Prime

11m 29s

Payroll Master creation in Tally Prime

29m 6s

Payroll Transaction in Tally Prime

18m

Payroll Statutory Report in Tally Prime

14m 51s

Assignment of Payroll

3m 24s

TDS Configuration in Tally Prime

29m 9s

Assignment of TDS

4m 34s

Financial MIS Report in Tally Prime

23m 54s

Inventory MIS Report in Tally Prime

19m 51s

Career as MIS

2m 38s

Versions of Tally

7m 35s

Course Summary

3m 25s

Interview Questions

11m 37s

Career Guideline

51s

FAQs

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.