hi
i run a smallish sized business(freight/customs clearance);have a normal o/draft facility varies from 20k to 50k max overdrawn(the business a/c).i also have a current a/c which is always in surplus but only for short periods(2 days max;ie a large lgmt in,followed by a quick t/fer out).we prefer to keep this a/c(used for clients paying vat at p/e) separate to the day to day business a/c.
one is meant to be backed against the other,
how can i check the interest calcs
i run a smallish sized business(freight/customs clearance);have a normal o/draft facility varies from 20k to 50k max overdrawn(the business a/c).i also have a current a/c which is always in surplus but only for short periods(2 days max;ie a large lgmt in,followed by a quick t/fer out).we prefer to keep this a/c(used for clients paying vat at p/e) separate to the day to day business a/c.
one is meant to be backed against the other,
how can i check the interest calcs