Overview
This module will apply "Late Payment Surcharges" to invoices once they become due. When a payment is registered, it calculates the surcharges using one of three methods: a fixed amount, a percentage of the invoice total, or a custom formula implemented in Python code that can take into account late days or other specific criteria. Furthermore, the module automatically assigns an account as specified in the payment terms, specifically within the late payment surcharge settings.
Features
Checkbox for enabling the LPS on Invoices
Fixed/Percentage Computation Method
Configurable Surcharges Account
Auto-Calculation of LPS when Registering a Payment
Auto-Assigning LPS Amount to Account for Journal Entry
Description
Checkbox for enabling the LPS on Invoices
Customize surcharge amounts for late payments according to your requirements, allowing for tailored fee structures.
Fixed/Percentage Computation Method
It enables the customization of surcharges either by a fixed amount or as a percentage.
Day-Based Surcharge Application
Set up surcharges that are automatically applied based on the number of days a payment is overdue, ensuring fees reflect the duration of the delay.
Advances Computation Method Python Code
Utilize a Python code option for advanced configuration and customization of late payment surcharges, offering greater flexibility.
Auto-Calculation of LPS when Registering a Payment
Apply late payment surcharges to invoices, ensuring comprehensive management of overdue payments across different invoices.
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