How to run interest in DocketMath for Texas

Step-by-step

Here’s a practical, step-by-step way to run interest in DocketMath for Texas (US-TX) using the Interest tool. This guide will help you pick the correct interest “slot,” enter inputs, and confirm that the calculator is using the Texas rule you intended.

Gentle note: DocketMath results depend on the specific slot you choose and on which Texas (or federal) rate receipts are certified for that slot.

1) Open the calculator

1. Go to /tools/interest.
2. Choose Texas (US-TX) as the jurisdiction.
3. Select the interest type/slot that matches what you’re trying to model.

Tip: Different interest types use different statutory formulas and/or different rate sources. If you pick the wrong slot, the math may still run—but it may reflect the wrong Texas rule.

2) Choose the right Texas interest slot

Use this checklist to align your scenario with the Texas interest types DocketMath can compute based on the verified packet constraints.

• Postjudgment interest (judgment interest)

  • Use when you’re calculating interest that runs after a judgment.
  • DocketMath’s verified judgment-interest rate for this packet is 6.75.
  • Authority mapping for this slot: Tex. Fin. Code § 304.003 (Texas OCCC current-rate source).

• No-agreed-rate legal interest (late payment / legal interest)

  • Use when the parties did not agree to an interest rate and you want the statutory “legal interest” treatment.
  • This slot is limited to the statutory rule reflected by Tex. Fin. Code § 302.002 (as certified/allowed by the Texas receipt available in this verified packet).
  • DocketMath’s verified rate for this slot is 6.
  • Accrual start timing for this packet: interest begins 30 days after the due date (as reflected by the certified sub-rule in the verified packet).

• Other Texas interest categories (may be blocked in this packet)

  • If you’re looking at ERISA, escrow interest, penalty interest, or security deposit interest, you may need a receipt that certifies the relevant rate.
  • In this verified packet, those categories are described as not certified for computing (so DocketMath may block them or refuse to compute).

3) Confirm what DocketMath can compute (and what it can’t) with this packet

Before you spend time entering dates, quickly confirm the tool is allowed to compute the rate you need:

Practical rule: if the slot you want is blocked because its receipt isn’t certified, switch to an allowed slot (or use the correct receipt inputs, if your workflow supports that).

4) Enter the inputs the tool requests

Although the exact field labels can vary a bit by interest type, your workflow is typically consistent:

1. Principal / amount

   • Enter the dollar amount interest should be calculated on.

2. Start date and end date (or interest period controls)

   • Enter the timeframe you want interest to accrue over.
   • DocketMath will apply the slot’s Texas-specific logic for how it counts the interest period.

3. Due date (only for the late-payment / legal-interest slot)

   • For the late payment slot in this verified packet, interest timing begins 30 days after the due date.
   • Make sure the due date you enter matches the due date concept in your scenario.

4. Computation method (if prompted)

   • If DocketMath asks about how to compute (for example, whether to apply a particular slot’s methodology), follow what the selected Texas slot describes in the UI.

5) Run the calculation and validate outputs

After you click Calculate:

• Check the displayed rate

  • If you used postjudgment interest, the tool should reflect the verified 6.75 rate for this packet.
  • If you used late payment / legal interest, the tool should reflect the verified 6 rate for this packet.

• Validate the accrual start logic

  • If you used the late payment slot, confirm interest starts 30 days after due (not on the due date itself).

• Review the totals and timeline

  • Look at total interest and any breakdown (daily/monthly, if shown).
  • Confirm the calculator’s effective interest window matches the date range you intended.

6) Confirm the slot maps to the correct Texas authority

Use the citation mappings embedded by the tool’s Texas slot selection to sanity-check your work:

• Postjudgment interest (judgment interest): Tex. Fin. Code § 304.003
  https://tcss.legis.texas.gov/resources/FI/htm/FI.304.htm#304.003

• No-agreed-rate legal interest (late payment / legal interest): Tex. Fin. Code § 302.002
  https://tcss.legis.texas.gov/resources/FI/htm/FI.302.htm#302.002

If the scenario you’re modeling doesn’t align with one of these allowed Texas slots (or if the tool blocks the slot you want), don’t try to force the result—switch to an allowed slot that matches your intended rule, or adjust your inputs/receipts as appropriate.

Common pitfalls

These are the most common reasons Texas interest results look “off” in DocketMath. Most issues come from slot selection or date logic.

1. Selecting a slot the verified packet can’t compute

   • Example categories that may not compute in this packet include ERISA, escrow, penalty, and security deposit interest because the necessary receipt certification is not present.
   • Fix: select an allowed slot (judgment interest or late payment / no-agreed-rate legal interest) if you want results with this packet.

2. Using the correct rate but the wrong interest slot

   • A result can look plausible while still being based on the wrong Texas interest category.
   • Fix: verify the slot name/type matches the rule you intended (postjudgment vs late payment/legal interest).

3. Date mismatch for the late payment slot

   • For the late payment / legal-interest slot in this packet, interest begins 30 days after the due date.
   • Fix: enter the due date correctly and do not assume accrual starts on the due date.

4. Assuming one “Texas rate” applies to every interest category

   • Texas uses different approaches depending on whether you’re calculating postjudgment interest versus late payment/legal interest.
   • Fix: confirm you’re using the correct slot so DocketMath applies the correct method and rate for that category.

5. Treating a computed output as a legal conclusion

   • Even when DocketMath computes successfully, it’s best viewed as a calculation under the selected slot’s supported Texas authority and verified receipt inputs.
   • Fix: if you need a different authority category, choose the corresponding allowed slot instead of reusing another slot’s output.

Try it

Quick test workflow to verify your Texas interest setup works end-to-end:

• Open /tools/interest
• Select Texas (US-TX)
• Pick one allowed slot:

  • Judgment interest (expect verified rate 6.75 for this packet)
  • OR
  • Late payment / no-agreed-rate legal interest (expect verified rate 6 and accrual starting 30 days after due)
• Enter:

  • a principal amount
  • the start/end dates for the interest period you intend
  • a due date (only if you chose the late-payment slot)
• Click Calculate
• Confirm:

  • the displayed rate matches the verified packet value for that slot
  • for late payment, the calculator’s effective accrual timing starts 30 days after due

Then change just one input (for example, extend the end date) to see how the total interest moves—this is the fastest way to confirm DocketMath is using the period you intended.

Related reading

• Interest calculation in United States (Federal): judgment and statutory interest — Full how-to guide with jurisdiction-specific rules
• Why interest results differ in United States (Federal) — Troubleshooting when results differ
• Interest reference snapshot for United States (Federal) — Rule summary with authoritative citations