This article explains how to use the Interest Calculator utility within Unity® Practice Management

General Information

• This utility allows you to calculate interest on a selected matter over a specified period of time.
• Interest rates must be entered into the system before the interest calculator will work. 

Access The Utility

1. Open the Accounts program.
2. Click the Utilities icon. 
3. Double-click the Interest Calculator option.

How To Calculate Interest For A Selected Matter

1. Select a Matter Code:

   • Enter either a matter code into the first field or a surname into the second field
   • For more accurate results, enter as much information as possible.
   • Click the dropdown to display a list of search results.

2. Select a Bank:

3.  Select a start date and an end date:

   • By default, the system will allocate a date range that includes all transactions. You can override this by entering a different date range.
4. The interest calculations will be displayed in the main window underneath. This window is divided into 2 sections:
   • The left-hand section displays the individual transactions on the ledger card within the specified date range.
   • The right-hand section displays the interest calculated on those transactions.
   • The total interest is displayed in the bottom right-hand corner of the main window.
5. You can alter any of the settings outlined in steps 1 - 3 at any time to perform further interest calculations.

How To Insert A Transaction

1. Right-click in the Transactions box and click Insert
2. A new blank record will appear in the left-hand section of the main window.
3. Enter a cleared date.
4. Enter an amount.

How To Delete A Transaction

1. Locate the required transaction in the left-hand section of the main window.
2. Select the transaction by clicking its cleared date. The cleared date will turn blue.
3. Right-click and select Delete

Miscellaneous Options

1. Click "Manual" to enable a manual calculator. 
2. Click "Options" on the top toolbar to enable a dropdown menu. From here, you can select whether or not to ignore negative interest.