Sap Financials - Interest Calculation

INTEREST CALCULATION
Follow the following steps to configure the interest calculation. IMG Menu Path: Financial Accounting> Accounts Receivable and Accounts Payable> Business Transactions> Interest Calculation Interest Calculation Global Settings Interest Calculation Global Settings Define Interest Calculation Types Depending on the requirement create an Interest Indicator for Item and Balance Interest. Give the Interest Indicator (your choice) Select the interest cal. Type as P S Z > Item Interest Calculation >Balance Interest Calculation >Penalty Interest Calculation
Save your entry. Define Number Ranges for Interest Forms Define the number range here with internal numbering if you want to generate a form after you run the Interest. Prepare Interest on Arrears Calculation Click on new items Enter the Interest Indicator (note the indicator must have been defined for Item Interest Calculation) Selection of items can be based on the business requirement. Normal business scenario is to calculate interest on the "Open items and items cleared with a payment". Calendar type: Choose one from the following B J F G 30/360 30/365 28,..,31/360 28,..,31/365
Factory Calendar ID: Enter Factory Calendar. If in you partner account there is a possibility of having contra entry in the open items you can chose to calculate interest only on the debit items by clicking the check box. If you want to avoid interest collection for small amounts you can do that by specifying the Amount limit per Currency. Save you entries.
Prepare Item Interest Calculation

Click on New entries Check Open Items Check Box Check radio buttons as required Ref. Date- here you can mention the base for calculating the due date 1 Value Date (or Baseline Date for Net Payment)
2 3 4
Document Date Posting Date Payment Baseline Date
Calendar type-GFactory Calendar ID-select your factory calendar If in you partner account there is a possibility of having contra entry in the open items you can chose to calculate interest only on the debit items by clicking the check box. If you want to avoid interest collection for small amounts you can do that by specifying the Amount limit per Currency. If you want to print a debit note or a form that can be sent to Partner you can mention here by checking the check box Print Form. Check box Post Interest Save your entries
Prepare Account Balance Interest Calculation

Click on New Entries Enter the Interest indicator Select the frequency of interest calculation. Settlement day; if you want to run all the settlements on a particular date in a month you can mention the date here. Calendar Type: G If you want to avoid interest collection for small amounts you can do that by specifying the Amount limit per Currency. Interest Calculation Define Reference Interest Rates Reference - Give the Code Long text- Define Time-Based Terms (these should be carried out for all the interest indicators) Click on new entries Enter your Interest Indicator Currency Key Date from- Effective Date of the interest Currency Term: describes the transaction type Note: Mention both Debit and Credit interest for you Indicator. Ref. interest rate: Mention you reference created above. Save your entry Enter Interest Values Select your Reference as defined above Enter the Interest Rate Interest Posting A/R: Calculation of Interest on Arrears Click on the Create icon to create an account symbol Click on the Account Button to maintain the accounts for the Account Symbols Save you entries Interest on Arrears Calculation (Vendors) Click on the Create icon to create an account symbol
Click on the Account Button to maintain the accounts for the Account Symbols Save you entries Create- Posting Specifications " Click on the create symbol" Business Transaction-1000 Enter the Debit and Credit Posting Key and the account symbol as created: Interest Receivd Accounts Chart of Accounts Select Account Symbol for Interest Received CurrencyGL Account- "Give the Account for interest received"-Revenue account Print Define Interest Forms (with SAPScript) You can define you own form here Assign Forms for Interest Indicators You can assign the existing form, standard, to you interest indicator here. Save your entries
Define Sender Details for Interest Forms

If you want to maintain the Sender Details to be printed on the form mention the data here. Your Configuration is complete here. Now mention this interest indicator in your GL, Customer and Vendor accounts. Interest postings can be carried out through T-Code- FINT, F.2A, F.2B, F.2C

Sap Financials - Interest Calculation

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INTEREST CALCULATION

Prepare Item Interest Calculation

Document Date Posting Date Payment Baseline Date

Prepare Account Balance Interest Calculation

Define Sender Details for Interest Forms

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