What is daily interest in SAP FS-AM - Account Management?

SAP Term: daily interest

• Component: FS-AM

• Component Name: Account Management

• Description: Interest amount on the key date.

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• Key Concepts: 
  Daily interest is a feature of the SAP FS-AM Account Management component. It is a calculation of the interest earned on an account balance over a 24-hour period. The daily interest rate is determined by the account type and the current market rate. 
  
  How to use it: 
  In order to use daily interest, you must first set up an account in the FS-AM Account Management component. Once the account is set up, you can enter the current market rate and the account type to determine the daily interest rate. The daily interest rate will then be applied to the account balance each day, and the total amount of interest earned will be displayed in the account summary. 
  
  Tips & Tricks: 
  It is important to keep track of the current market rate in order to ensure that you are getting the most out of your daily interest calculation. Additionally, it is important to review your account summary regularly to ensure that you are earning the correct amount of interest each day. 
  
  Related Information: 
  For more information on setting up an account in FS-AM Account Management, please refer to SAP’s documentation on Account Management. Additionally, for more information on calculating daily interest, please refer to SAP’s documentation on Interest Calculation.