Deposits that book their own interest

Every fixed and recurring deposit on one register, its interest booked month by month as it is earned.

Add a deposit once: the bank, the rate, how it compounds, when it matures. Each month its interest is booked as earned and not yet received; when the bank credits interest or the deposit matures, that amount is released and only the rest is income. A deposit broken early shows its penalty on its own line, a renewal opens the new deposit with nothing passing through the bank, and the tax the bank deducted carries the bank's number so it matches its statement row by row.

Who it is for

A business owner, an accountant or a firm

Where it works

India