Consolidated Interest

The Consolidated Interest works out the simple interest a party owes on what it has not paid, over the books of more than one year or company. It is the Consolidated Ledger with two more columns, the days each balance or bill is charged and the interest on it, and a rate to set. Use it when a customer’s dues run back into last year’s books and you want one statement of the interest, with the opening balance carried over. The interest is worked out on screen and in print only: it is never posted to the books.

For the same calculation on the year you have open, use the Interest Report.

It reads the books of other years and companies, so it works in the SimplyERP app on the device that holds those books. In SimplyERP Online, which has only this year’s backup, the screen says so instead of showing a statement.

Open the report

Press Alt+4 for Financial Reports, then Q. Choose the party in A/c Name. The list holds the accounts linked in Setup, which works as it does in the Consolidated Ledger. The period starts as the financial year’s first day to today.

The report waits for a party. The rates start at 12% on a 360-day year, on both sides.

Single: the balance, day by day

Single charges each balance of the account. The first line is the opening balance on the From date. Each posting after it changes the balance, and the new balance is charged until the next posting, or until the To date for the last one.

Here Sri Lakshmi Agro Traders is taken from 01-04-2025, the first day of last year, to 18-10-2026. The postings of FY 2025-26 come first, then those of FY 2026-27, in one running balance. Type and Ref.No. are hidden with Columns so the Interest column fits.

The opening 12,500.00 Dr is charged for 135 days, up to the first posting on 14-08-2025, and earns 562.50. After the receipt of 18,000.00 on 05-12-2025 the balance is 12,500.00 Dr again, charged for 132 days up to 16-04-2026.

A line with no days, such as the bill P/13 of 16-04-2026, has another posting on the same day: the balance after the last posting of the day is the one charged.

The totals are under the grid.

The grand total is the closing balance with the interest added: 6,575.00 plus 4,541.43 is 11,116.43. The Debit includes the opening line’s 12,500.00.

Bill-wise: each posting on its own

Bill-wise charges each posting’s own amount from its date to the To date, not the running balance. Use Credit days for the days you allow a customer to pay: they are taken off the days of every debit posting, so the interest on a bill starts after its credit period.

The journal of 30,000.00 on 14-08-2025 is 430 days before 18-10-2026. Less 30 credit days it is charged for 400 days: 30,000.00 × 12% × 400 ÷ 360 = 4,000.00 Dr. Each receipt earns interest on its own amount, marked Cr.

Bill-wise gives a net interest of 1,030.92 Dr and a grand total of 7,605.92 Dr for the same party and period.

Choices

A rate is from 0 to 99.99 with at most two decimals. A day basis is from 1 to 9999, and credit days from 0 to 9999.

The choices above the grid. Single has no Credit days.

Credit days appear only when the method is Bill-wise.

Every choice is kept in the page address, so Copy link gives a link that opens the same statement.

What it lists

The postings of the Consolidated Ledger: everything posted to the party in the linked accounts, from each database’s own financial year, up to the To date. The first line is the Opening balance on the From date, with the type OB and the reference Op.Bal, and it has days and interest of its own. After it come the bills, returns, notes, receipts, payments and journals, one line each. Each line says in Company / year which database it came from.

Two things differ from the Consolidated Ledger. Postings of nil amount are listed here, and they change no balance. Lines of one day follow the order of the databases as linked, then the order the postings were made; debits do not come before credits.

If the opening balance of a year is not the closing balance of the year before it, a red message under the choices says so, as in the Consolidated Ledger, and the statement carries the earlier year’s closing balance.

Columns

The totals line counts the lines and adds up their Debit, Credit and Days. The opening line is one of them, so the Debit here includes the opening balance when it is a debit. Its Balance is the closing balance and its Interest is the net interest. The line under it gives the Debit, Credit, Closing, Interest and Grand total and the labels of the databases the statement read.

How the figures are worked out

• Opening line. Its amount is the opening balance of the party on the From date, as in the Consolidated Ledger: the opening of the first selected year of each business plus its postings before From.
• Balance on each line = the balance of the line above + Debit − Credit. A positive balance is Dr and a negative one Cr.
• Days, Single. A line is charged from its own date up to the date of the next line, or up to the To date for the last line. The To date itself is not counted, so over the whole statement the days add up to the days from From to To: 565 days from 01-04-2025 to 18-10-2026.
• Days, Bill-wise. Every line is charged from its own date up to the To date, which is not counted. For a debit posting the Credit days are taken off, down to no days at all. The opening line, and credits, keep all their days. A line of nil amount has no days.
• Principal. In Single it is the balance after the line, without its sign. In Bill-wise it is the posting’s own amount (for the opening line, the opening balance).
• Rate and side. A debit balance or debit posting uses Dr % and its days in the year. A credit balance or credit posting uses Cr % and its days in the year. With Interest on Debit balance the credit rate is taken as 0, and with Credit balance the debit rate is taken as 0. In Bill-wise a line counts as credit when it has a credit amount.
• Interest on a line = principal × rate % × days ÷ days in the year. For example, 12,500.00 × 12% × 135 ÷ 360 = 562.50.
• Rounding. Each line’s interest is rounded to the paisa, half up, once. The totals add up the rounded lines.
• Interest total = the sum of the interest on debit lines less the sum of the interest on credit lines, marked Dr when it is positive and Cr when it is negative. Bill-wise with Interest on Debit balance, for the same party, gives 14,064.26 Dr; with Both, the credits’ interest of 13,033.34 is taken off and 1,030.92 Dr remains.
• Grand total = the closing balance with the net interest added: the closing balance as a signed amount (Dr positive) plus the interest on debit lines, less the interest on credit lines. A closing balance of 6,575.00 Dr and 4,541.43 Dr interest give 11,116.43 Dr.

Bill-wise with Interest on set to Debit balance: only the debit postings earn interest, 14,064.26 Dr, and the grand total is 6,575.00 + 14,064.26 = 20,639.26 Dr.

Find

Find narrows the postings, not the figures: each line keeps its balance, days and interest from the whole statement, and the opening and closing balances do not change. The Interest in the totals line, and the Interest and Grand total under the grid, are those of the whole statement. The Debit and Credit under the grid, and the Debit, Credit and Days in the totals line, add up only the lines shown.

With Find “NEFT” only the eleven receipts are shown, but the interest is still 4,541.43 Dr and the grand total 11,116.43 Dr.

Print and export

• F10 prints the statement headed INTEREST DETAILS STATEMENT, with the party’s name, the labels of the databases, the period, the rate line (Rate of Interest 12 % for 360 Days on Debit Balance, and the same for credit) and the method with its Interest on choice, and the credit days when there are any. The columns are Tr.Date, Company, Type, Ref.No., Transaction Details, Credit, Debit, Balance, No.days and Interest. It ends with Totals, Total Outstanding, a line Add : Interest Amount (Less when the interest is on the other side from the balance), the Grand Total, and the company’s confirmation of the balance, principal and interest with a line for the dealer’s signature.
• F12 saves it as an Excel workbook, with the figures as numbers.
• Alt+Enter gives the whole window to the list.
• Typing letters jumps to a posting whose narration starts with them.

The statement does not open the bills behind its lines: the other years’ books are read, not opened.