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Simple Interest Calc Design

From: Rob K <rfk_at_credaccept.com>
Date: 28 Apr 1999 14:12:34 -0500
Message-ID: <37274f92@discussions>

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

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