Interest Accounts

Interest income and expense can be entered in detail manner or summary. For example, interest expense can be entered as a total summary amount or the detail can be displayed and forecasted for each debt instrument on the Balance Sheet.

Interest can be entered as a total amount in history, with detail forecasted based on a percentage of the current period, prior period, or average debt or investment balances. This is due to the fact that historical interest information is usually summarized, while interest in forecast periods can be detailed using rates applied to debt and investment balances.