Simple Interest calculation in Tally ERP9

Interest calculation in tally erp9 made easy in latest versions. Tally has the option to use simple mode interest calculation and advance mode interest calculation. Generally interest is calculated on the overdue bills or delayed payments and on loans. Interest is the income to the receiver and expense for the payer. Before moving to tally let’s have some more idea about interest. What is Interest? As far as a borrower is considered Interest is the cost of amount borrowed from

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