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'Calculate Interest' Flag value
Archy
Member Posts: 70
When 'Calculate Interest' Flag in Table 21 (Cust. Ledger Entry) is set? It seems that it is set by some routine, because the value is changing without user interference... But I can't understand the target of this flag and when does it receive it's value? 
0
Comments
Regards.
I've check and found out that sometimes in Customer Ledger Entry table are different 'Calculate Interest' values for the same customer!... So it must come from some another field.
Take a "Reminder Terms Code" = 'X'
See that Reminder Terms code is marked "Post Interest" and
the related "Reminder Levels" are also marked as "calculate Interest"
Then assign this Reminder Terms to a Customer. Ans also set the Payment Terms Code to 30days.
Post an invoice Sales Journal of 500.00 as of 01/01/06
Post a payment Sales Journal of 500 as of 01/03/06 ( far beyond the payment terms. in this case i am suggesting to post the payment two months later).
When you apply the payment to the invoice from Customer LEdger Entry - Apply Entries, then the field "Calculate Interest" on the Invoice Customer Ledger Entry will be marked as yes O:)
This is because the invoice due date is less than the document date, which tells the system that interest must be calculated as per reminder terms as the invoice was overdue.
So your next question may be " whats next??? the invoice though closed is set to calculate interest, when will it calculate interest?? " That i dont know :whistle:
Please don't cross-post !
The "Calculate Interest" is copied from the reminder levels of the reminder terms , so this flag can change in the entry if no payment is received and the entry has reached a reminder level with "Calculate Interest" ticked.
If payments are received,and the cust. ledger entry remaining amount is 0 , it is eventually set to FALSE again.
The "Post Interest" flag in the reminder terms will post the calculated interest to the G/L and customers accounts, but often these charges are not paid by the customers anyway, so these posts will have to cancelled again.