Help with Setting Up Payment Plans and Interest in ERPNext

ERPNext
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Hi everyone,

I’m currently setting up ERPNext for a friend’s store, and I need some help. The store offers payment plans for customers, where the invoice is not paid in full upfront. Instead, the customer pays a fixed amount each month, which includes interest. Additionally, if a payment is missed, a penalty is applied.

I haven’t been able to find an easy way to set this up in ERPNext. Does anyone know how to handle this scenario, where payments are spread over time with interest and penalties for late payments?

Any suggestions or tips would be greatly appreciated!

Thanks in advance!

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Hi. Did you try Dunning doctype? You can set interest rate and fees about a customer on overdue sales invoices. I never use it, but de tool is available. You need to try if it works for you.

Regards

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Will try in three days, thanks