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Interest rates in payment term

gomatheeswaran_palaniappa
Active Contributor
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Hi Gurus,

We have one requirement to create a payment term like this "Payment due within 30 days and 1% interest per month". How can we set interest rates in OBB8 transaction?

Regards,

P Gomatheeswaran

Accepted Solutions (0)

Answers (1)

Answers (1)

Former Member
0 Kudos

Hi,

In the Transaction code OBB8 you can define the INTEREST RATE and no of days for which till interest applies

goto the details of the Payment terms in the same transaction and in the screen you can find the tab with PAYMENT TERMS---installment payments.

In that tab you can enter the Percentage as 1% and no of days as 30.

So the interest will be 1% if the payment is due for 30 days.

Hope it is clear,

Please check and revert back if u need more details

thanks,

santosh

gomatheeswaran_palaniappa
Active Contributor
0 Kudos

Hi Santosh,

Thanks for taking time in replying my query.

In that section, the % belongs to cash discounts if the payer pays the amount much earlier than the payment term specified. Correct me if I am wrong.

Regards,

P Gomatheeswaran