Standard Bookkeeping Services > Calculation of Interest

In case your client is in delay related to payment of its obligations towards your company, these receivables may include interest calculation: 

1. based on legal default interest,
2. or based on commercial interest rates you agreed upon.

The first option is based on the Law on Interest Rates and the second on the agreement you have with your partner.

We would like to point out that in the business climate in Serbia today the calculation of interest is a very unpopular method of encouraging obligations settlement, even though it is legally completely defined. 

However, the SVM - United Business Solutions as the bookkeeping agency - considers the calculation of interest its standard contracted obligation. In order to receive the best possible results from interest calculation, it is necessary to keep client analytics updated, as well as open items. The reason is simple: according to current law, interest calculation is performed each time on the entire outstanding amount. In practice, we often say that the "interest upon interest" is calculated. 

Owing to its bookkeeping software and business management software, calculation of interest shall be performed in full: 

• Calculation
• Automatic entry into the General Ledger and other business books
• Automatic charge to the buyer
• Printout of the detailed interest calculation
• Maturity report on calculation date

Calculation of Interest - price of the service

Price of this service depends primarily on whether you are using our business software or not since this significantly reduces the activity of re-entering data into the business software by the accounting The price also depends on the number of invoices for which the interest is calculated. Naturally, the price of the service depends on whether the potential company is the user of other services from our united business solutions package, in which case special arrangements are made depending on services selected.