Alpha Software Mobile Development Tools:   Alpha Anywhere    |   Alpha TransForm subscribe to our YouTube Channel  Follow Us on LinkedIn  Follow Us on Twitter  Follow Us on Facebook

Announcement

Collapse

The Alpha Software Forum Participation Guidelines

The Alpha Software Forum is a free forum created for Alpha Software Developer Community to ask for help, exchange ideas, and share solutions. Alpha Software strives to create an environment where all members of the community can feel safe to participate. In order to ensure the Alpha Software Forum is a place where all feel welcome, forum participants are expected to behave as follows:
  • Be professional in your conduct
  • Be kind to others
  • Be constructive when giving feedback
  • Be open to new ideas and suggestions
  • Stay on topic


Be sure all comments and threads you post are respectful. Posts that contain any of the following content will be considered a violation of your agreement as a member of the Alpha Software Forum Community and will be moderated:
  • Spam.
  • Vulgar language.
  • Quotes from private conversations without permission, including pricing and other sales related discussions.
  • Personal attacks, insults, or subtle put-downs.
  • Harassment, bullying, threatening, mocking, shaming, or deriding anyone.
  • Sexist, racist, homophobic, transphobic, ableist, or otherwise discriminatory jokes and language.
  • Sexually explicit or violent material, links, or language.
  • Pirated, hacked, or copyright-infringing material.
  • Encouraging of others to engage in the above behaviors.


If a thread or post is found to contain any of the content outlined above, a moderator may choose to take one of the following actions:
  • Remove the Post or Thread - the content is removed from the forum.
  • Place the User in Moderation - all posts and new threads must be approved by a moderator before they are posted.
  • Temporarily Ban the User - user is banned from forum for a period of time.
  • Permanently Ban the User - user is permanently banned from the forum.


Moderators may also rename posts and threads if they are too generic or do not property reflect the content.

Moderators may move threads if they have been posted in the incorrect forum.

Threads/Posts questioning specific moderator decisions or actions (such as "why was a user banned?") are not allowed and will be removed.

The owners of Alpha Software Corporation (Forum Owner) reserve the right to remove, edit, move, or close any thread for any reason; or ban any forum member without notice, reason, or explanation.

Community members are encouraged to click the "Report Post" icon in the lower left of a given post if they feel the post is in violation of the rules. This will alert the Moderators to take a look.

Alpha Software Corporation may amend the guidelines from time to time and may also vary the procedures it sets out where appropriate in a particular case. Your agreement to comply with the guidelines will be deemed agreement to any changes to it.



Bonus TIPS for Successful Posting

Try a Search First
It is highly recommended that a Search be done on your topic before posting, as many questions have been answered in prior posts. As with any search engine, the shorter the search term, the more "hits" will be returned, but the more specific the search term is, the greater the relevance of those "hits". Searching for "table" might well return every message on the board while "tablesum" would greatly restrict the number of messages returned.

When you do post
First, make sure you are posting your question in the correct forum. For example, if you post an issue regarding Desktop applications on the Mobile & Browser Applications board , not only will your question not be seen by the appropriate audience, it may also be removed or relocated.

The more detail you provide about your problem or question, the more likely someone is to understand your request and be able to help. A sample database with a minimum of records (and its support files, zipped together) will make it much easier to diagnose issues with your application. Screen shots of error messages are especially helpful.

When explaining how to reproduce your problem, please be as detailed as possible. Describe every step, click-by-click and keypress-by-keypress. Otherwise when others try to duplicate your problem, they may do something slightly different and end up with different results.

A note about attachments
You may only attach one file to each message. Attachment file size is limited to 2MB. If you need to include several files, you may do so by zipping them into a single archive.

If you forgot to attach your files to your post, please do NOT create a new thread. Instead, reply to your original message and attach the file there.

When attaching screen shots, it is best to attach an image file (.BMP, .JPG, .GIF, .PNG, etc.) or a zip file of several images, as opposed to a Word document containing the screen shots. Because Word documents are prone to viruses, many message board users will not open your Word file, therefore limiting their ability to help you.

Similarly, if you are uploading a zipped archive, you should simply create a .ZIP file and not a self-extracting .EXE as many users will not run your EXE file.
See more
See less

Best Method: Interest calc on partial payments?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Best Method: Interest calc on partial payments?

    Given an Invoice table and a Payments table (among others), what is the best way (or any way) to calc the interest on outstanding balances of partial payments?

    e.g.
    4/23/07 Invoice = $939.00
    7/17/07 Interest = $30.56
    7/20/07 Payment = $524.00

    Thus, the current balance is $415.00


    So I have interest for the portion before the payment and interest for the balance. Furthermore, the client may make additional partial payments in the future.

    I don't need a formula, per se. I'm looking for a procedure and/or structure to deal with this.

    All suggestions welcome. Thanks
    Peter
    AlphaBase Solutions, LLC

    [email protected]
    https://www.alphabasesolutions.com



    #2
    Re: Best Method: Interest calc on partial payments?

    Hi Peter


    seems to me that you really dont need a method
    of calculating interest, that would be determined by your terms

    open balance * interest charge

    what i really think that you are asking is

    "How do i apply payments?"

    there are usually 2 ways that this is handled

    "oldest open" and "specific invoice"

    if your customer will provide you with details on their payment vouchers
    they would usually appreciate you applying the payment as per their
    selections

    if they dont let you know then most people use the oldest "open method"
    and allocate the payment to the oldest invoice and exhausting the funds
    on successively newer invoices.




    hth
    regards

    martin
    www.jollygreenthumb.com

    Comment


      #3
      Re: Best Method: Interest calc on partial payments?

      Peter,

      I am wrestling much deeper with calculating vehicle payments with starting dates of 10 days or 30 days(easy) or 45 days or any variant. Now multiply that by having to schedule it for weekly, biweekly, semi-monthly, or some other periodic schedule. Try and get the interest correct.

      Late payments on this one are done by an amount like 5.00 or 5% of the payment whichever is larger as stated in the contract which has to conform to a federal regulations book. All interest bearing intruments have to conform to that same book.

      I can't remember the name of the book, but it has the exact and only legal methods for what you ask. I am working on it.

      Dave
      Dave Mason
      [email protected]
      Skype is dave.mason46

      Comment


        #4
        Re: Best Method: Interest calc on partial payments?

        Thanks Dave.
        Peter
        AlphaBase Solutions, LLC

        [email protected]
        https://www.alphabasesolutions.com


        Comment


          #5
          Re: Best Method: Interest calc on partial payments?

          Martin, thanks for your response. But payments is not the problem. The problem is correctly calculating the interest on the balances of partial payments. I know how to calc interest. I'm looking for a method that automatically takes into consideration the timing of payments with respect to interest accumulated and calculating interest on the balance. It's simple to take a case and do it in a spreadsheet manually. I need a succinct methodology/data structure to properly automate this.
          Peter
          AlphaBase Solutions, LLC

          [email protected]
          https://www.alphabasesolutions.com


          Comment


            #6
            Re: Best Method: Interest calc on partial payments?

            Peter

            sorrry, i miss understood what you wanted

            sounds that you are interested in calculating the daily interest on the
            outstanding balance

            then

            outstanding balance * daily rate * #days outstanding(payment date - invoicedate)

            unless you plan to do this on a monthly basis
            then

            outstanding balance * daily rate * #days outstanding(payment date - lastinterestcomputeddate)


            maybe this is a little closer to what you are looking for

            just a thought
            regards

            martin
            www.jollygreenthumb.com

            Comment


              #7
              Re: Best Method: Interest calc on partial payments?

              Originally posted by martin horzempa View Post
              outstanding balance * daily rate * #days outstanding(payment date - lastinterestcomputeddate)
              Although I stated above that I wasn't looking for a formula, your post gave ma an insight. I now can see that by posting my interest calc date to the parent table (in addition to the interest owed), I can do what I need to calc interest on the leftover balances of partial payments. Thanks for your input!
              Peter
              AlphaBase Solutions, LLC

              [email protected]
              https://www.alphabasesolutions.com


              Comment

              Working...
              X