I have a situation where I would like to backdate an interest charge against an old outstanding receivable. When I run the interest calculation against the sample data it appears to default to 1 month of interest. Is there any option I can select that will calculate the interest back to the original due date or should I calculate manually and edit the batch?

Thank you for any and all advice.

Sandra

Hi Sandra,

Perhaps you need to change the interest calculation method in the Company Profile from Overdue Balance to Overdue Invoices?

For example, customer BSC01 in sample data has a balance of 7077.44 and if I change the interest rate to 10%, the interest invoice is 4741.80 based on Overdue Invoices. Based on Overdue Balance, it's only 58.15.

Yes, that makes all the difference.

Your help is much appreciated.

Sandra