How to Post Interest to a Saving Account

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Last updated: Jul 13, 2017 by Mounashree S (Unlicensed)
1 min read

What is Post Interest?

Interest is normally calculated and posted to an account using a batch process that runs on a regular basis defined by your financial institution. 

The frequency of posting the interest amount depends on "Interest posting frequency". Say for example the "Interest posting frequency" is monthly, then interest will be posted every month and this will also create journal entries according to the posting.

On this page:

To calculate interest for a saving account

Locate the saving account by viewing the client, group, or center that holds the saving account, and click on the saving account under Saving Account Overview.

  1. Select More and Post Interest from the action bar.
  2. Click on transactions to view interest posting transactions. Based on the "Interest posting frequency" the posting of interest happens. For an example the "Interest posting frequency" is given as "monthly" which means the interest should be post every one month.
  3. Journal Entries for the interest posted for ID 420 is as shown in the above fig

          

 

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