What is 'interest amount' in SAP FI - Financial Accounting?

interest amount - Overview

• Component: FI

• Component Name: Financial Accounting

• Description: An amount resulting from interest calculation.

interest amount - Details

• 
  Key Concepts: 
  Interest amount is a term used in SAP Financial Accounting (FI) to refer to the amount of interest that is due on a loan or other financial obligation. It is calculated based on the principal amount, the interest rate, and the length of time for which the loan or obligation is outstanding. 
  
  How to use it: 
  In SAP FI, interest amount can be calculated using the Interest Calculation (F.05) transaction. This transaction allows users to enter the principal amount, interest rate, and length of time for which the loan or obligation is outstanding. The system will then calculate the interest amount due and display it on the screen. 
  
  Tips & Tricks: 
  When entering data into the Interest Calculation (F.05) transaction, it is important to ensure that all data is entered accurately. This will ensure that the correct interest amount is calculated and displayed on the screen. 
  
  Related Information: 
  For more information about interest calculation in SAP FI, please refer to the SAP Help Portal at https://help.sap.com/viewer/product/SAP_FI/6.0/en-US.