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Former Member
Sep 04, 2009 at 06:54 AM

Intrest rate correction?


Hi Gurus,

I have a scenario here.

I have changed the Intrest rate which is effective from 1st August.But this chnage is in Quality

My Client was assuming that these changes have moved to production client and so they calculated the Intrest for the month unknowly with with the old rate.

Two queries

1.What will happen when the new intrest rate moves to Production.?

2.Will it make the changes only from the date of Transport or they will calculate the same from the date effective.

3.What is the Process to reverse the intrest Posted (with ol rate )once the new interest rate needs to be effective

4.Please suggest the best Practices followed in these type of scenarios

Your valuable suggestion are welcomed!