Interest Calculation

The Interest Calculation report allows the user to calculate the Interest on late invoices at the End of the Month.

Before calculating the Interest, the user must make sure that the interest rate percentage is entered under the Interest Rates Menu.

When accessing this report, the system will start calculating the interest automatically and will display the interested calculated by customer account:

And will display the following message:

The user must press on OK to continue

The user must press on the  button when satisfied with the calculation.

The system will display the following message:

The user will press on Yes to update the interest calculation which will update the customer's statement.