Hi
Entry - 1 F-90
Asset Dr 86,42,667
Vendor Cr 86,42,667
Entry - 2 NILL
Entry - 3 F-02
Cash Dr 66,00,000
Interest Dr XXXXXX
Provision for int Dr YYYYYY(74,25,144-6600000-XXXXX)
Loan Cr 74,25,144
Entry -4 F-07 (every month)
Loan Dr 2,06,254
cash Cr 2,06,254
Entry -5 F-02 transfer entry, first day of new fiscal yera
Interest Dr YYYYYY
Provision Cr YYYYYY
Entry -6......36 F-07 (every month)
Loan Dr 2,06,254
cash Cr 2,06,254
OTHERWISE configure interest calculation on GL (balance interest cal calculation)
system will calculate interest. you have to make payment entry only.
Regards
Nakul