Accrued Interest - What is it? and how to calculate it?

Grab your copy of the EIDL amortization schedule: https://claracfo.podia.com/eidl-amort...

In accounting, accrued interest refers to the amount of interest that has been incurred, as of a specific date, on a loan or other financial obligation but has not yet been paid out.

Accrued interest is charged and accumulated on the total amount due. It INCREASES your total debt when you don’t pay it off.

Videos mentioned:    • EIDL Repayment Schedule - How much in...  
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Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at https://claracfo.com/

Disclaimer: This video is intended for educational purposes and
should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.