From version 20.6. are located in receivables registration software Evolio internationally valid interest rate standards, for determining the interest period. Thanks to this, you have calculated the interest exactly according to the contractual conditions for specific receivables.

How to choose an interest rate standard?

When establishing a financial claim Interest see the middle section Specification item Calculation interval . Here are the new standards:

Annual Act / 365 The English method, based on an accurate calculation of the interest period, with the length of the year always being 365 days.
Annual Act / 360 French method, the interest period is calculated according to the calendar, the length of the year is 360 days.
Annual 30E / 360 German method, the interest period is calculated in a simplified way 30E, the length of the year is 360 days.

The two most used methods in our region ( French and German ) equally assume that a year has 12 months and each month has 30 days. The length of the year is therefore always 360 days. The only difference is in the way the data is modified before the actual calculation is performed.

If you want to learn more about their differences, a detailed description of the calculation formulas can be found in the independent article Counting the time for interest .