Result > Information Tab

Calin Professional provides a matching narrated result report, table format report plus full micro-detail of the calculation.

These calculation notes give access to details that tend usually to be concealed or overlooked and are necessary for a 100% understanding of the calculation.

Calculation Notes

The following information is provided to give you a complete understanding of the calculation, so even the finest details are available if ever needed.

1. The debit interest rates have been taken from the debit rates file (qldmctpr).

2. The main calculation options (such as days per year, credit application order and rounding) have been taken from the debit rates file where they are embedded as part of the rates specification. These options can be changed for individual calculations in Settings|Options, or for all new cases in Settings|Setup.

3. The credit interest rates (if required) have been taken from the settings on the main form.

4. In Settings|Options you have selected the setting that tends to be best for the creditor (i.e. the person who is owed the money). It applies any payments against interest before it applies payments against principal. This keeps the amount of principal on which interest is calculated as high as possible for as long as possible thus maximising the total amount of interest.

5. Decimal Rounding. When converting from an annual rate of interest to a daily rate of interest, and except if overridden in an interest rates file, the program has rounded-up to 8 decimal places, eg 8.12512324924555 is rounded to 8.12512325%. You can change the setting in Settings|Options.

6. Calendar Year. You are using the "Calendar Year" method for converting the annual interest rate to the daily interest rate. In many cases this is the most accurate setting but you should be aware that it adds complexity to the calculation report because it requires additional interest calculations before and after each leap year. If you require a simpler report and it is appropriate to do so then choose a different setting. The setting is either embedded in the Options section of the selected interest rate file or else it is set in Settings|Options on the main form. In either case you can change or override the setting for a particular calculation in Settings|Options. Please note that such settings only apply to the current calculation. You can change the default value that affects all new calculations in Settings|Setup. The default value cannot however automatically override any setting in the Options part of an interest rate file - you still have to override on an individual basis as explained above.