How Do You Build a Formula That Automatically Calculates Interest on an Accounts-Payable Amount?
In Jestor, the interest formula multiplies the amount field by a percentage factor — for example, 1.10 to apply 10% interest — using the multiplication operator right inside the formula field.
Why this formula is useful
Bills paid late usually carry an interest add-on, and calculating that by hand for every payment risks errors. Having a ready-made formula in the registry avoids recalculating that amount outside the system.
How the formula works in practice
- You create a new formula-type field, e.g. "value with late interest"
- You reference the original amount field inside the formula
- You multiply by the desired factor, like 1.10 for 10% interest
- The result updates automatically whenever the original amount changes
How to build the interest formula in Jestor
- Add a formula-type column to the accounts-payable table
- Search for and select the amount field to use as the base
- Multiply using the asterisk symbol and the desired percentage factor (e.g. 1.10)
- Click create — the field with the calculated interest appears automatically
Note that, in the standard example, the calculation is done on a fixed percentage. To apply interest only after the due date, you can combine this field with a date formula, like the one that calculates the due date from the issue date.
Process automation with less manual math
This kind of formula reduces rework for finance, since the interest-adjusted amount is now calculated automatically within Jestor's process automation, with no separate spreadsheet needed.
Table Summary
| Formula element | Example from the video |
|---|---|
| Base field | Accounts-payable amount |
| Operator | Multiplication (*) |
| Interest factor | 1.10 (equal to 10%) |
Video Tutorial: Step by Step
Video: Ep 18: Formulas in Jestor — video tutorial showing this feature in practice, right inside the Jestor interface.
Frequently Asked Questions
Does the interest formula recalculate automatically if the amount changes? Yes, the formula field updates whenever the source amount changes.
Can I use a different interest percentage instead of 10%? Yes, just swap the multiplication factor for the percentage you want.
Does this formula automatically factor in the due date? Not by default; it calculates based on the amount, but it can be combined with a date field on jestor.com as your process requires.
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