You can calculate interest on eachinvoicefor the period it is outstanding, wholly or partly. Transaction by transaction or bill-by-bill interest calculation is permitted for 'Party' accounts like accounts falling under the groups Sundry Debtors and Sundry Creditors. Bill-wise details should be active for the company and the party
The interest calculation feature is enhanced with the facility to calculate interest on ledger balance as per Bank balance provided in Bank Reconciliation Statement using simple and advanced parameters based on bank/reconciliation date. However, to allow users to predefine auto-calculation of interest based on voucher date, the Date Type -Voucher Dateis also made available along withBank/Reconciliation Datein the bank ledger master.