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Former Member
Sep 26, 2011 at 07:14 AM

Item Interest calculation

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Hi Team,

My client requirement is as below.

At present they r charging 12% interest . From the next month onwards they r going to charge 14% interest.

But they wants to charge 12% interest to the open items which are posted prior to 01St Oct 2011.

Please suggest me.

Case u2013 1

All the Customers, whose overdue balances (pertaining to Invoices billed upto September 30th, 2011) falling on or after October 1st 2011, will continued to be charged interest at 12% based on the overdue balance

Case u2013 2

All the Customers, who are billed from October 1st 2011, will be charged interest at 14%. from the date of Invoice. However, if the customer also has overdue balances pending prior to 1st Oct 11 it would continue to be charged @12%