Beginning in Accounts. Had gone through various Payments, Receivable & many types of payments. But, I hadn’t seen any feature regarding Interest Calculations.
Sometimes, We are not able to fulfill our Suppliers Credit on time, and Supplier started Interest Calculation for Payable Amount, I had paid that Interest Amount, and still received the invoice for Supplied Items only. How to manage these situations? If some reporting helps here, can save lots of Interest Amount here.
Also, When I supply items to my customers, they don’t pay on time, even of notification. So, thinking to start Interest Calculating, now how to manage this situations as well.
How to enable Interest Calculations part, does this also need customization? and payment entries for these? Please help.