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When it becomes time to execute an interest posting for a given savings account we do the following:
- Retreive all *End Of Day Detail*s for the account. (By this we mean that we find all deposits, withdrawals and interest that occured on a day)
- Determine the range of applicable days for the interest posting period e.g. 1st of Jan to 31st of March
- Determine the interest calculation period*s that fall within this *interest posting period. e.g. 1st of Jan to 31st of Jan, 1st of Feb to end of Feb etc
- For each interest calculation period we determine the applicable *interest calculation period detail*s. This will contain information such as account balance at start of period, and all applicable *End Of Day Detail*s for period.
- For each interest calculation period we also create an associated Interest Calculation Period Calculator which is solely responsible for calculating the interest earned/due for the given interest calculation period. The Savings Interest Detail*s used by the calculator are taken directly from the savings product or if the savings products interest details have changed, its can use *historical interest detail*s. As a result, its is possible for adjust interest rates (or min interest required balance rule) and still calculate correctly the interest that was due in a *an interest calculation period that exists in the past.
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