Applying interest on outstanding invoice
KB Article #:
40522
Summary:
Applying interest on outstanding invoice
Description:
At the time of posting the invoice, interest was not set up in the billing terms.  
How can interest be applied manually on outstanding invoices?

Resolution:

  1. Go to Transaction Center > Transaction Entry > Invoices and create a new file.
  2. Enter the outstanding Invoice number to apply the interest. 
  3. In the Invoice Section, select Interest and in the Amount column input the calculated Interest Amount and post this file.
    Note: No account will be chosen in this entry as this is a memo entry only, and will not impact the General Ledger.
 
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