Accounts/PMS
Deposit Interest Calculator
- No need to keep separate deposit accounts. All monies can be held in one high interest bearing account and any deposit interest due to clients calculated by the system as per Law Society rules.
- Interest can be calculated for client accounts, nominal accounts and also on bills!
- Calculations can be done on a single matter , all matters for a specific client or across the entire system in one pass.
- Provides useful manual input mode for 'staging' ad-hoc calculations
- System caters for multiple interest rate tables and any number of period/rate bands in each table as per Law Society requirements.
- System will automatically post the calculated interest to the account ledger if required.
- Full on-screen and optional printed report showing all interest calculations for audit and verification purposes.
- Printed tax file report catering for Government requirements for high interest earning clients/accounts.
- Use of clearance periods table for different types of transactions ensures calculations are accurate and apply to cleared balances only, i.e. Cheque=4 days, TT=1day.