In Poland, the tax interest rates are determined by the Ministry of Finance. The vendor calculates the interest if the payment settlement is made after the due date. If the payment period is shorter than 30 days, the vendor can calculate the tax interest from the due date through the payment date. Free-hand interest rates apply when payments are settled between the 31st day after the posting and the due date.

  1. Click Accounts receivable> Periodic> Interest and collection letter> Interest calculationto open the Interest calculationform.

  2. Select the Invoicecheck box to calculate interest on invoices.

  3. Select the Credit notecheck box to deduct customer credit notes before the interest calculation.

  4. Select the Paymentcheck box to deduct customer payments before interest calculation.

  5. Select the Interestcheck box to calculate compound interest on previous interest notes.

  6. In the From datefield, select the starting date. The interest calculation will include transactions that are due on or after this date.

  7. In the To datefield, select the ending date for the interest calculation.

  8. In the Round-offfield, enter the units to round off the interest amount.

  9. In the Use posting profile fromfield, select the posting profile from the following options:

    • Account– Use the posting profile from the relevant customer account for each interest note.

    • Select– Indicate a posting profile in the Posting profilefield.

  10. In the Posting profilefield, select the customer posting profile for the calculation.

  11. Select the Free hand interestcheck box to calculate the free-hand interest and tax interest.

  12. Click Selectto open the Interest jobform.

  13. Select the criteria to calculate interest and click OK.

  14. In the Interest calculationform, click OKto calculate the tax interest and free-hand interest and create the interest notes for the customer accounts.

See Also