Hi Rob,
How often does this happen?
The reason I ask is that I have observed a tendency to try to do
everything on the computer even though it sometimes makes a lot more sense
to have certain classes of exceptions handled by humans. I suspect your
situation is one of these.
In your case there is another consideration, namely that in general any
adjustment of a prior period accounting entry should be initiated by the
accounting department and the only thing you should have to do on the
database side is enter the final adjustment to the current balance.
regards
Jerry Gitomer
Rob K wrote in message <37274f92_at_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 Thu Apr 29 1999 - 08:01:40 CDT
