How to calculate interest due on each invoice?
You can calculate interest on each invoice for the period it is outstanding wholly or partly. Transaction by transaction or bill-by-bill interest calculation is permitted for Party accounts like accounts falling under the groups Sundry Debtors and Sundry Creditors. Bill-wise details should be active for the company and the party.
The report is similar to the Bill-wise Outstanding Statement. The last column gives the interest amount on the transaction. Press Detailed to see the calculation.
Go to Gateway of Tally -> Display ->Statements of Accounts -> Interest Calculations -> Ledger
Select Account, e.g., CP Ltd