The Account Interest Details report can be downloaded here: Account > Historical Reports > Account Interest Details
Client interest is calculated on a daily basis but booked monthly, therefore, client interest calculated during the course of the month is registered as Change in Accruals until it is booked on the account. Note that in the screenshot below, the Account Value is for the period 1st May – 31st May. This means that all interest amounts calculated during that period are registered under Change in Accruals, until the booking date.
The applied interest rate charged, is dependent on whether the Value Dated Cash Balance is negative or positive. If the Value Dated Cash Balance is negative the interest charged is the (Ask Rate + Markup). Whereas if the Value Dated Cash Balance is positive, the interest charged is the (Bid Rate – Markup). The interest amount is calculated as:
Below is an example of the interest amounts that are calculated on a daily basis during the course of the booking month.
Note that in this case, the interest calculated on 29-05-2020 is not included in the Change in Accruals during the period of 1st – 31st May. This is because the interest charge is for 3 interest days and is only first booked on the 1st of June.
These interest amounts accrued during the course of the month are then aggregated and booked at the end of the booking month. In this case, all interest amounts, including the interest amount booked on 1st June, are booked to the account on the 1st June.