Dear Guru,
I have a doubt in Balance Interest calculation:
My client required Balance interest calculation on advance & Invoice both case before clearing advance.
For example.
Interest Rate is @13.50%
Advance amount received from Customer Rs. 7000/- on 01.11.2014
and book a Invoice on 10.11.2014 Rs. 17000/-
Balance amount = (Rs.17000-Rs.7000) = Rs. 10000/-
Client required interest Calculation scenario as under
Rs. 7000.00 X 13.5% X 9/365 = Rs. 23
Rs. 10000.00 X13.5% X21/365 = Rs. 78
So Interest credit Rs. (78-23) = Rs.55
So closing balance of Customer = (Rs. 10000 + Rs. 55) = Rs. 10055.00
Kindly provide all possible solution for above scenario.