ISU: FICA Late Payment Penalty or Charges

[manish_gupta222]

Dear Experts,

Need your advise whether below requirement can be achieved using Standard SAP or not.

we have a requirement that any late payment receipt on billing shall be charged to interest rates wherein rates will be kept as dynamic i.e. it will vary as the days in arrears proceeds.

Note: I have also checked standard process for interest calculations but we can't enter dynamic rates in configurations. ( FPI1).

refer below case & attachment for requirement.

Liability: 5000 & Net Due date: 01.01.19

if due date exceeds by 15 days then 5% penalty needs to be posted in FPL9, if due date exceeds from 16-30 days then 10% penalty needs to be charged, for 31-45 days 15% penalty and so on.

regards,

Manish

[rahul_chakrabortysap]

Hello Manish,

To implement the dynamic rates at the time of interest calculation through FPI1/ FPINTM1, you need to proceed with the following ::--

A) Configure different interest Keys having seperate interest rates (5%, 10%, 15%, 25%)

B) Assign only the interest key 5% on the contract account level

C) Enahnce the event 2040 in order to calculate the aging for each of the item and calculate the interest amount as per the rule. Then update the interest Key, interest rate and amount in the structure I_FKKIA.

Hope it helps.

Regards,

Rahul