Hi,
We are trying to set up dunning terms for a client. They charge 12% annual interest (1%/month).
they need to be able to charge interest and post service invoices for ALL open invoices. if and invoice was dunned before it should calculate interest from the last dunning run, and if it is a new invoice that is now past due, interest should be calculated from the due date.
the issue is that in the dunning terms set up you can only choose one of the 2:
1. Calculate Interest from Due Date
2. Calculate interest from Last Dunning Run
If you choose option 2 the wizard completely overlooks any new past due invoices that were not dunned yet. If you choose option 1 the wizard will keep calculating interest from the original due date, instead of adding a only 1% interest (if the wizard is ran once a month)...
the client's business requirement is 100% valid and justifiable, but I do not see a way to accommodate it. Did anyone else run into such a scenario and if yes - what was the solution?
Thank you in advance,