Title: Quantum Modelling of Magnetism in Strongly Correlated Materials: Evaluating Constrained DFT and LDA+$U$+$J$ for Y114

Abstract: Transition-metal compounds represent a fascinating playground for exploring the intricate relationship between structural distortions, electronic properties, and magnetic behaviour, holding significant promise for technological advancements. Among these compounds, YBaCo$_4$O$_{7}$ (Y114) is attractive due to its manifestation of a ferrimagnetic component at low temperature intertwined with distortion effect due to the charge disproportionation on Co ions, exerting profound impact on its magnetic properties. In this perspective paper, we study the structural and magnetic intricacies of the Y114 crystal. Traditionally, the investigation of such materials has relied heavily on computational modelling using density-functional theory (DFT) with the on-site Coulomb interaction correction $U$ (DFT+$U$) based on the Hubbard model (sometimes including Hund's exchange coupling parameter $J$, DFT+$U$+$J$) to unravel their complexities. Herein, we analysed the spurious effects of magnetic-moment delocalisation and spillover to non-magnetic ions in the lattice on electronic structure and magnetic properties of Y114. To overcome this problem we have applied constrained DFT (cDFT) based on the potential self-consistency approach, and comprehensively explore the Y114 crystal's characteristics in its ferrimagnetic order. We find that cDFT yields magnetic moments of Co ions much closer to the experimental values than LDA+$U$+$J$ with the parameters $U$ and $J$ fitted to reproduce experimental lattice constants. cDFT allows for an accurate prediction of magnetic properties using oxidation states of magnetic ions as well-defined parameters. Through this perspective, we not only enhance our understanding of the magnetic interactions in Y114 crystal, but also pave the way for future investigations into magnetic materials.