Zoho Bookings & SalesIQ Alignment

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Accrued interest

Definition:

Accrued interest is the money that has earned interestbut hasn’t been paid yet. It’s like money that is due to you but hasn’t arrived.


Example:

If you keep ₹10,000 in a bank account that earns interest ,after 6 months you have earned interest, but the bank hasn’t given it to you yet. This is called accrued interest.


How to understand accrued interest:

When you save money, the bank pays you interest over time. Even if you don’t get the money right away, you still earn it.


Importance of Accrued Interest:

It helps you know how much money you will get in the future from your savings.

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