In this article we will be going over 2 steps on how to create statement & reminder with interest charges.

Step #1:
Interest Posting – You will need to post interest by the statement date (See below). The interest rate setting is in the Global Setting->Financial Tab

1.1 post interest up to todays’ date,

1.2 post interest with back dated

1.3 In Interest posting, you may choose different interest calculation method, #4 is a monthly option, the monthly period is depends on your statement date. Click on Post Interest button to post all confirmed interest. The posted interest will become one of unpaid Account Receivable entry in client ledger.

Step #2:
Create A Statement – Use the same date as the interest calculation for the statement date. Since you have already posted the interest, make sure to deselect  “Charge interest at rate of”.