Enter Interest and Fine Details in Outgoing Invoices

Explanation

This activity is used to enter interest and fine details for the customer invoice and outgoing supplier invoice installment lines. If the customer/supplier is linked to an interest template in the Payment tab of the Customer or Supplier window, the interest and fine details specified in the interest template is applied to all the installment lines by default. You can modify these values separately for each installment.

Prerequisites

An invoice is required to be entered and saved.

System Effects

Interest and fine will be calculated as specified for the installments of the invoice.

Window

Instant Invoice
Manual Customer Invoice
Outgoing Supplier Invoice

Related Window Descriptions

Instant Invoice
Customer Invoice
Outgoing Supplier Invoice

Procedure

To enter interest and fine details for an instant invoice;

  1. Open the Instant Invoice window. Search for the relevant invoice or enter a new one.
  2. Go to Instant Invoice/Installment Plan and Discounts tab. Right-click on installment line and click on Interest and Fine to open the Interest and Fine dialog box.
  3. If you want, you may enter values for Interest Rate, Fine Rate, Interest Tolerance Days and Fine Tolerance Days.
  4. Select the Interest Calculation Method from the list.
  5. If you want the due date for interest and fine to be calculated based on all months having 30 days, select the Use Commercial Year check box.
  6. Click Save.

To enter interest and fine details in customer invoice;

  1. Open the Manual Customer Invoice window. Search for the relevant invoice or enter a new one.
  2. Repeat steps 2 to 6 given above to enter interest and fine details.

To enter interest and fine details for an outgoing supplier invoice:

  1. Open the Outgoing Supplier Invoice window. Search for the relevant invoice or enter a new one.
  2. Right-click in the window and click Installment Plan and Discounts to open the Outgoing Supplier Invoice Installment Plan and Discounts dialog box.
  3. Select the relevant installment line and click Int. and Fine to open the Interest and Fine dialog box.
  4. Enter values in the Interest Rate, Fine Rate, Interest Tolerance Days and Fine Tolerance Days as required.
  5. Select a value for the Interest Calculation Method  field.
  6. If you want the due date for interest and fine to be calculated based on all months having 30 days, select the Use Commercial Year check box.
  7. Click Save