Let's check another setting. Under Setup, General, Financial, Rules,.....is the setting for "Payments entered after the Last Bill Date calculate interest on the next bill" checked or unchecked? As per the Help file: "Paying off the bill in full Eastern’s last bill was approved on June 30th. Their overdue balance is $2,000. You charge an annual interest rate of 18 percent after charges become 30 days overdue. On July 30th, Eastern’s bill moves into the 30 days aging period, and is eligible for interest. On August 10th, you receive a check for the full payment of the $2,000 overdue amount and you print a bill on August 15th. The setting of the Payments entered after the Last Bill Date calculate interest on the next bill check box determines how interest is charged. If the Payments entered after the Last Bill Date calculate interest on the next bill check box is not marked. Timeslips considers the balance as paid off and no interest is charged. If the Payments entered after the Last Bill Date calculate interest on the next bill check box is marked. Timeslips calculates interest on the overdue amount from the last bill date (June 30th) until the date of the payment. The equation to calculate this is: Interest amount = [Days overdue] / [Days in year] x [Interest rate] x [Amount overdue] = 41 / 365 x .18 x $2000 = $40.44" Hope that helps.
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