Day count conventions define how interest accrues by setting how days in a period and in a year are counted. Common conventions include Actual/360, Actual/365 and 30/360. Actual/365 is the standard convention for sterling loans, while Actual/360 is standard for euro loans. Because the exact amount of interest owed depends on the convention described in the loan agreement, loan servicing software must be able to handle every convention. LoanStreet CLS supports all common day count conventions, including Actual/360, Actual/365 and 30/360, for accurate loan interest calculations for daily accrual accounting and invoicing.