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 What is the Procedure for running interest calculation?
Solution Step 1:

Download the revised DB Analyzer Software. Run DB Analyzer software. Select ‘Database Discrepancies’.
  1. Ensure that previous financial year Interest Entry (2005-2006) is made for all accounts. (‘Ledger entries without previous year interest entry’ option will list the accounts without interest entry)
  2. Ensure that account type is available for all accounts. (Account numbers with blank account type’ option)
  3. Ensure that ledger entries with Cleared Date as ‘01/01/1900’ are not available. (‘Ledger entries with LOT / Cleared Date as 01/01/1900’ option)
Step 2


Login as ‘Supervisor’ in on-line module.
  1. Check interest rates in initialisation group.
  2. Check the current financial year in the form (Form No.0410) ‘Initialisation >> Financial Year – SB / PPF / NSS’ (Financial Year should be 01/04/2006 – 31/03/2007).
Step 3

From the menu
  1. Select ‘Annual Interest Calculation’ form (Form No. 1305 / 1004 / 0904) to calculate interest for SB / PPF / NSS.
  2. Select 'IBB Report' option to generate IBB Report. 3) Select 'Annual Interest Calculation' option to carry out calculation.
Step 4

After calculation is finished
  1. Check the error files in SP5\OT folder to view the accounts for which interest was not calculated.
  2. If any of the errors listed can be rectified, rectify them and re-calculate interest by selecting 'Annual Interest Calculation' option again, before interest posting.
  3. Select the 'Annual Interest Posting' option to carry out interest posting.

Note:

  1. Interest calculation should be performed at HO only, for all SOs except for MDG.
  2. For SOs, interest calculation should be performed only after receiving and incorporating all the Supplementary Dates’ transactions in SOSB module.

Can Interest Calculation be done after 1st of April?

Interest calculation for PPF can be done on any day after completion of transactions on the 31st of March and for other schemes it can be performed on any day after day begin has been performed for the 1st of April. Interest is posted (inserted) in the ledger with transaction date as per rules.

Article Details
Article ID: 26
Created On: 14 Jun 2008 05:46 AM

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