Income Statement/Balance Sheet Detail Report – Accrued Interest

The Income Statement/Balance Sheet Detail Report shows various activities, and one of the key transactions is the interest. This article will define the interest components included in the report.

Accrued Interest Beginning

Represents opening balance as of the reporting date

Accrued Interest Added

Represents the interest that has been added to the opening balance

Accrued Interest Activity

Represents the delta between current and prior period interest balance

Accrued Interest Removed

Represents the amount of interest reduced during the period

Accrued Interest Ending

Represents the ending balance for the selected period and is calculated based on the Remaining Liability multiplied by the Discount Rate, divided by "Number of Days" or "Number of Months" (depending on whether the accrued interest is being calculated daily or monthly)