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I have asked this question before but continue to have problem how interest for days and month are calculated. For example my calculation for an invoice listed below and D365
DateInterest dateInvoice amountAmount of interestDaysDescriptionDue dateDate Interest report My interest calculation
I calculated days as 202 which includes the due date and the date the interest was calculated but D365 calculated days as 232. Please explain. Thank you
System calculates daily rate, 30 is a fixed number of days, regardless of this month is 28,29,30,31days. Daily rate = Monthly interest / 30.
Mattguo,
What does the interest for partial months is calculated at a rate of 1/30 of the monthly interest for each day. Is the 1 represents the first day and the 30 represents your formula?
I have to explain to my management team how the interest formulas work and I am struggling with this.
Morning Sylvia,
It is standard formula for your case.
What exactly requirement or result do you want?
Hi Mattguo, Is this a standard calculation formula? The Microsoft D365 states the following
alculate interest each day. Interest for partial months is calculated at a rate of 1/30 of the monthly interest for each day.
Hi Mattguo, is the (0.017/30) = to 0.000566667 a day interest charge?
The calculation is 641*244*(0.017/30) for the first line, the 30 is not payment term, it is just the fixed formula.
Hope you can understand.
Please refer to official document: docs.microsoft.com/.../interest-setup-form
Hi Mattguo,
So the interest calculation doesn't look at terms only to count the invoice due date? Could you let me know if my interest calculation is correct. because I thought it look at the payment terms, How would I explain this
Hi Sylvia,
The interest calculation doesn't look at terms only to count the invoice due date.
Do you check the result on your previous post: community.dynamics.com/.../how-is-interest-calculated-by-month-and-day
Day: calculate interest each day; interest for partial months is calculated at a rate of 1/30 of the monthly interest for each day.
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