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I was wondering how some companies design
their system to handle simple interest
calculations. The system I am working on
stores not only the debits and credits for
each account but also what debits are paid
by which credits. Calculating the simple
interest is straightforward once you sum up
the principle balance. The problem arises
when a correction to a debit or credit back
in time. Obviously this correction could
have an effect on the principle balance of
the account and any interest charges there
after would be wrong. The only way I see of
bring the account in line would be to
recalculate the principle and interest
balance disregarding any corrections and
compare it to the current balance, any
differences would have to go in as
adjustment transactions. It even gets more
complicated if a credit needs to be applied
back in time. i.e. reapply a check that came
in 3 months ago from one account to another
account.
Any comments would be appreciated.
Thanks Rob
--Posted from EarthWeb Discussions. http://discussions.earthweb.com Received on Wed Apr 28 1999 - 14:12:34 CDT