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| Revolving credit is a type of short term credit for business capital needs that does not have a fixed number of payments. It is calculated over used days and its returns are collected quarterly at the end of terms. Because revolving credits' interest rates are specified according to term conditions, it shows alteration; does not have a fixed interest rate. Inclusive of limit, it provides opportunity to use cash when needed in required amount. According to cash flow, it is possible to close credit partially or completely before its due date. |
For payment transactions or calculation of revolving credit interest, "Interest Calculation" option is used which is located in F9-right mouse button menu of Bank Credit Installments list.
Credit info is displayed at upper part of revolving credit interest calculation window.
Calculation date and interest rate is entered from calculation criteria section. Calculation is done for three-month periods.
"Calculate" option is clicked and three-month term calculation transaction is started. Calculated amount is transferred to Interest Amount field.
Payment transactions belonging to operation are generated by clicking "Generate Payment Transaction" option. Generated payment transaction is displayed at bank credits / credit installments list.
In order to make payment, "Pay" option is used which is located in F9-right mouse button menu of Bank Credit Installments list.
Generated bank slips at the end of the transaction can be reached and viewed by bank slips list or by "Related Bank Slips" option located at F9-right mouse button menu of bank credits list. Anchor