Interest Calulation in AX 2009

Respected Experts,

I need to setup Interest Calculation for the Customers and Vendors for the payment received and paid respectively after the due date. And the payment terms on the SO/PO should be also linked with the Interest Calculation.

For Example : Customer A has to pay 10,000 on 1-8-2012. and he pays after the due date i.e. 5-8-2012 so we charge interest per day wise and item wise.

So please help me in achieving the above request in Standard AX 2009

Thanks in Advance.

HJ.

Hi,

Collection and interest collection is already there in standard AX. You can use that. The feature is part of Financial management 2.

Pranav…

Thanks…for the above post…

i had gone thru the document named Customer Collection Letter & Interest Calculation.

But now the doubt is…how will I link the defined Interest Codes with the Terms of Payments we select at the transaction level.

Awaiting prompt reply,

Thanks in Advance,

HJ