The basic rule for interest calculation must be calculated as follows:
Monthly amount divided by 30 and multiplied with the days of the months – maximum days of a month can be 30 days !
Some examples:
A) If you calculate interest for the invoice in the repro steps until Sept 5th 2017 you have to calculate with 16 days (11 days from August plus 5 days from September).
B) You post an invoice with due date Feb 20th 2017.
a. Interest calculation until Feb 28th 2017: 8 days
b. Interest calculation until March 10th 2017: 18 days (8 days from February plus 10 days from March)
c. Interest calculation until April 10th 2017: 48 days (8 days from February plus 30 days from March plus 10 days from April)
Comments
Brilliant and contructional idea
Category: Credit and collections
Greate idea
Category: Credit and collections
Shivam Pandey (administrator) on 10/17/2018 3:30:00 PM
Thank you for your feedback. We will consider this in our roadmap.
Sincerely,
Shivam Pandey,
Microsoft