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Bond Interest Accrual RFC

Technical RFC documenting bond interest accrual methodology.

Overview​

This document describes how bond coupon interest is accrued daily in the Asset360 system.

Methodology​

Bond interest is accrued using the ACT/365 day count convention:

Daily Interest = (Quantity × Face Value × Coupon Rate) / Days Per Year

Implementation​

See worker/coordinator/eod/service.ts method processBondInterest() for the implementation.

Journal Entries​

Dr. Accrued Interest Receivable (Bond)
    Cr. Bond Interest Income