Proper field configuration in your Filevine expense sections forms the foundation of VineCalc's interest calculation capabilities. These fields are the building blocks enabling VineCalc to track, calculate, and update interest accurately. This guide will walk you through setting up each required field and understanding its role in the interest calculation process.
Understanding VineCalc Fields
Before diving into a specific field setup, it's important to understand that VineCalc uses a carefully designed field system to track original expenses and accumulated interest. Each field serves a specific purpose, creating a comprehensive interest-assessing system. Some fields store raw data, while others calculate derived values, creating a complete picture of your interest-bearing expenses.
Required Fields
Each Expense section that will use VineCalc must contain the following fields. If these fields do not exist in your Expenses section or exist in different iterations, they must be altered to match these configurations.
Original Amount Due
Type: Currency
Purpose: Records initial expense amount
Usage: Base amount for interest calculations
Notes: Must contain the original expense value without interest
Assessed Interest Amount
Type: Currency
Purpose: Tracks accumulated interest
Usage: Automatically updated by VineCalc monthly
Notes: Do not manually modify this field
Interest-Adjusted Amount Due
Type: Calculated Field
Purpose: Shows total amount with interest
Formula: Original Amount Due + Assessed Interest Amount
Notes: Updates automatically when interest is assessed
Expense Date
Type: Date
Purpose: Starting point for interest calculations
Usage: Interest begins accruing from this date
Notes: Critical for accurate interest assessment
Interest Rate
Type: Percentage
Purpose: Defines rate for calculations
Usage: Can be standardized across expenses or variable
Notes: Must be in decimal format (e.g., 0.06 for 6%)
Field Naming
Consistent and clear field naming is crucial for VineCalc's operation:
Standard Names
Use exactly the field names specified above
Maintain consistency across all expense sections
Document any necessary variations
Consider adding field descriptions
Field Organization Tips
Group related fields together
Consider adding section headers
Remember, proper field configuration is essential for VineCalc's success. Take the time to set up and verify your fields carefully. If you encounter any issues during setup, our support team is here to help at products@vinetegrate.com.
Next Steps
Once your fields are configured:
Verify the setup with your VineCalc onboarding specialist
Test the fields with sample data
Train your team on the new fields
Begin tracking interest with confidence
Your attention to detail in field configuration will ensure accurate, reliable interest tracking and calculations moving forward.