There are functions for creating and printing interest proposals based on customer invoices that are due for payment or paid too late. To get an overview, you can produce an interest proposal that is edited before an invoice/note is printed and a voucher created. The system handles three methods of how interest can be calculated:
WhenFullyPaid
When this method is selected, the interest proposal
will only
include invoices which are fully paid. The interest will be based on the
total invoice amount.
WhenDueForPayment
This method involves calculating interest for an invoice as soon as the
due date has elapsed. This method allows an invoice to be included in more
than one interest proposal.
WhenPartlyPaid
This method allows interest to be calculated for invoices which
are partly paid. Interest is calculated separately for each partial payment.
The system allows you to create, delete or modify the interest proposal created. You can exclude complete interest invoice recipients or individual invoices/notes from the proposal. For regular customers, the reminder recipient is the customer or payer of the invoices included in the proposal (when the Send Reminder to Other Payer check box is selected in the Payment\Misc Payment Info tab). For a one-time customer, each invoice address ID is a separate recipient. The Interest Proposal process also has the operations Print Proposal and Print Interest Invoices/Notes. You can specify in the Company/Payment/General tab window whether interest invoices/notes should be posted when it is printed. When the interest invoice/note has been printed, a voucher is created to the hold table in IFS/Accounting Rules if it specifies that invoices/notes should be posted when printed. If you have specified otherwise, you can post the invoices/notes later after it is printed. It is possible to reprint an interest invoice/note via Info Service/Print Manager if necessary or by using the Customer Interest Invoices/Notes window. The reprinting does not create any system effects; only a physical paper is printed.
Before you start entering information check that Basic Data Required (BDR) has been set up as per instructions in Define Financials Basics, the Set up Basic Data Customer Credit Management process.