There are two fields in the company code data area of customer and vendor master records that are relevant for the calculation of interest on arrears:
● Interest indic.
The program that calculates interest on arrears uses the interest indicator specified in the customer master record. The most important specifications for the interest calculation run are stored under the interest indicator. They include, for example, rules determining which items are selected for interest calculation and how the interest is calculated.
The interest indicator must be assigned the interest calculation type Item interest calculation.
● Last key date
After each interest calculation run, the program enters the upper limit of the calculation period into this field by batch input. This is the date you have specified for the calculation run.
If an account is to be included in the interest calculation run, an interest indicator for interest on arrears must be specified in the master record!