Interest Rates > Interest Accrual Interval

Daily (Default)

This calculates and accounts for interest everyday. Interest becomes due and payable everyday.

Scheduled

This mode lets you enter a formula such as 'Every second week starting Thursday 14th', 'End of every calendar month', etc. It also lets you enter specific dates. See the Scheduling of Interest & Compounding topic. Interest is not due until the end of each scheduled period.

Shadow Mode (not always available)

Use this mode when checking existing interest calculations - for example when checking whether a financial institution has calculated interest correctly.

You enter all the debits and credits, and all the interest amounts. This mode will calculate interest on the same days as the interest amounts you enter.