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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
Hi Sylvia,
According to your last post screenshot, the problem should be the Interest day is incorrect.
It is a bug and has been fixed, please search the KB 4519711 in LCS.
Hi Mattguo,
I do not quite understand the answer? You have stated the that the interest days is not correct ? Does that mean that calculation for the grace period is incorrect? I calculated the grace period as 5 days
I do not know if the grace period is incorrect. Your calculation is correct.
In normal environment, the interest date should be calculated based on the due date, but your case is the transaction date.
If you do not quite understand, please try to use other environment to test.
It is a fixed error, please search the KB 4519711 related information in LCS.
Mattguo, does the calculation of interest in D365 included 30 days plus the day the invoice is due?
What do you mean?
The interest date should be next date of the invoice due date. And the interest days should be calculated from the interest date to the end date.
Please refer to my screenshot in the normal environment.
Good Morning Sylvia,
Have you implemented the hotfix that Mattguo mentioned?
Do things work correctly after applying the hotfix?
Best regards,
Ludwig
Hi Ludwig, yes the hoxfix worked but it does not calculate the customer who have different terms not the standard terms of net 30 but payment terms of 35,60,90,120, 15 and 10
how does the 5 day grace period work?
Hi Sylvia，
Please elaborate on your problem you are facing.
For 5 days grace period, take a case, for my previous screenshot, if the end date is 2/15/2020, system will not calculte the interest. But if the end date is 2/16/2020, the interest days will be 6 days.
This is official explanation: Enter the number of days that is allocated as a grace period from the due date to the date when charges are assessed. For example, if your organization allows a grace period of five days from the due date to the date when payment is received before charging fees and interest, you would enter 5.
We have process the hot fix but it has include another problem. We have varies terms of net 30 , net 40, 45, 60, 90, 120 but it seems that the calculation is only looking at 30 days only Please see my example
DateInterest dateInvoice amountAmount of interestDaysDescriptionDue dateInvoice customer terms is60 days but D365 ran as 30 days not 60 days
Calculation net 30 days
The correct interest for net 60 days my calculation
Please advise
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