We are happy to introduce our brand new Bricknode Broker add-on: Interest manager! Administration of interest is now as easy as anything in Bricknode Broker.
Interest manager lets you keep track of any and all interest, which means you can let your customers capitalize on a positive balance as well as paying interest on loans or accounts that are overdrawn.
There are of course a number of settings that can be made within the Interest Manager. As usual, the full documentation can be found online, but here are some of the most important features:
Different interests for different currencies
Every account has its own interest setting, so that interest can be adjusted depending on currency or other conditions.
Capitalization of interest
Whether accrued interest should be capitalized periodically or at a set expiration date, you can easily set this on each account type (and creating new account types is, of course, a breeze).
Withholding tax
Depending on the rules that apply to your house, tax may be withheld automatically when interest is capitalized. Tax withheld gets transferred to a house account and can be paid to your local tax agency from there.
Worthwhile and reasonably priced
At a modest SEK 3000 a month we consider Interest Manager a bargain. Get your instance through Bricknode Broker, or contact us for help. We’ll get you set up in no time.
//Your friends at Bricknode