Key that defines the rules for calculating interest, and which the system uses for determining all factors that influence interest calculation.
You assign interest calculation rules to interest keys.
Interest rules can refer to a reference interest rate.
You define interest calculation rules in Customizing for Contract Accounts Receivable and Payable under
. You define date-dependent and/or amount-dependent interest rates for an interest calculation rule. You can also calculate interest on the basis of whole months. Or interest calculation rules can refer to a reference interest rate. Other influencing factors are:Interest calculation method
The interest calculation method is defined by the DAYS/DAILY BASIS quotients and as a factor of the percentage calculation leads to an interval-based percentage calculation. For example, you can define a year with 360 days (banking calendar) or 365/366 days (Gregorian calendar) as a daily basis. The days relevant to the interest calculation would then be determined according to the banking calendar (30 days in each month) or the current calendar (the actual number of days).
Graduated interest calculation
You can calculate interest on a scale.
Interest interval
The defined interest rate is a yearly, monthly, weekly, or daily interest rate.
Rounding for interest calculations
You can round the amount to be used for calculating interest before the actual interest calculation. You define rounding rules in the interest conditions for the interest calculation rule in Customizing for Contract Accounts Receivable and Payable under
.In event 2075, you can round the result of the interest calculation up or down. If you process the function module FKK_ROUND_INT_AMOUNT
in event 2075, you can round interest calculated with the function module FKK_INTEREST_CALC
according to values defined in Customizing (see Customizing for Contract Accounts Receivable and Payable under ).
If you process the function module FKK_SAMPLE_ROUND_2040
in event 2040, the interest is not rounded until the line items have been created for the interest document to be posted and the interest items have been summarized.
With a function module processed in event 2092, you can determine the number of days for which you do not calculate a supplement to the reference interest rate for your customers.