| Description |
Steps:
# Create voucher using a date and term that will compute interest
# Post
# Create payment
# Enter partial payment
# Post the Transaction along with full interest.
# Create another Payment for the same Bill
*Issue:*
Paying another payment to partially paid vouchers, interest is not recomputed
Acceptance: If paid in full on a different day/month, recompute payment based on the APR of the terms used, invoice date and the amount due of the voucher.
APR
|Step|Data|Interest| |
|Create Voucher|50.00| | |
|Post Vocuher|1/1/2018| | |
|Pay voucher for $25|1/5/2018|(50)*(.1/365)*4 (day)| |
|Pay remaining|1/6/2018|25*(.1/365)*1 (Day)| |
_Sir [~george.olney] - this is for confirmation. Currently, we are using months to compute APR (rate ÷ 12 months) but AR is now using days (rate ÷ 365 days). Do we also need to use days to compute APR?_
_Yes - we need to compute APR based upon days_
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