How to Calculate Yearly Transaction Interest rate in Free Excel Tool. There are accounting softwares where we have business entries for debit and credit. These entries could be between owners of the business, from owner to business and vice-versa as credit and debit. At the end of financial year generally we calculate interest based on month, 360 or 365 days. Mostly it can be done in accounting software but it can also be calculated in simple Free excel tool by providing data in 2 fields – Date and Amount.
The good thing about the tool is that a user can set rate of interest, number of days used for calculation i.e. 360 or 365. S/he has to be provide entries as Date and Amount (amount to be given under proper heading as Debit or Credit).