The interest Calculator uses the interest base rate and interest bands set up in the Utilities, this can be over written when calculating interest.
It also uses the System Parameter, Interest Start Date or the first posting as a start point. For any migrated systems, accrued interest will take the Client Ledger balance as at the Interest Start Date as a brought forward balance.
This posting/enquiry screen splits into two sections;
On the left hand side in the top section, is where you enter the client matter which you wish to calculate interest for.
The middle section is where you select the criteria to be used for the calculation ie choose to ignore the Law Society days, adjust the base rate, exclude clearance days etc.
The bottom section on the left hand side, shows the different sections within the Interest Calculator.
Once a client and matter is selected at the top left, the Right hand side shows all client transactions with posting date and clearance date, the description and the total interest accrued, previous interest paid with the date and the balance of interest now payable.