| Availability |
Odoo Online
Odoo.sh
On Premise
|
| Odoo Apps Dependencies |
•
Discuss (mail)
• Invoicing (account) |
| Lines of code | 1360 |
| Technical Name |
inom_Interest_on_Overdue_Invoices |
| License | LGPL-3 |
| Website | https://inomerp.in |
| Versions | 17.0 18.0 19.0 |
| Availability |
Odoo Online
Odoo.sh
On Premise
|
| Odoo Apps Dependencies |
•
Discuss (mail)
• Invoicing (account) |
| Lines of code | 1360 |
| Technical Name |
inom_Interest_on_Overdue_Invoices |
| License | LGPL-3 |
| Website | https://inomerp.in |
| Versions | 17.0 18.0 19.0 |
Automate Overdue Interest Calculation
Interest on Overdue Invoices
This module helps businesses automatically calculate and apply interest on overdue customer invoices in Odoo. It simplifies late payment management by generating interest amounts based on configured rules, improving financial tracking and reducing manual work. Users can easily review overdue invoices, apply interest charges through a wizard interface, and maintain accurate customer accounting records. The module enhances credit control processes and ensures better payment discipline with a smooth and efficient workflow.
Key Highlights
Automated Overdue Interest Management
Automatically calculate and apply interest on overdue customer invoices with configurable rules, smart processing, and seamless integration into Odoo accounting workflows for improved payment tracking and financial management.
Flexible Interest Calculation Configuration
Configure overdue interest rules with flexible calculation methods, percentage settings, due date conditions, and automated processing to accurately manage late payment charges across customer invoices.
Seamless Overdue Invoice Processing
Streamline overdue invoice management with automated interest application, quick processing, real-time calculations, and user-friendly wizard workflows that reduce manual effort and improve accounting efficiency.
Automatically calculates and applies overdue interest on customer
invoices with flexible rules and accurate computation.
Improves accounting efficiency by reducing manual work
and streamlining payment tracking and credit control.
General Settings
Begin by configuring the global overdue interest settings for your company. Enable the Interest on Overdue Invoices feature, define the default interest configuration to be applied automatically on overdue customer invoices, and set the appropriate Income Account and Accounting Journal for posting interest entries. These settings ensure accurate accounting integration, automated processing, and smooth management of late payment charges within Odoo.
Customer Configuration View
Customize overdue interest settings for individual customers directly from the Customer Contact form. Override the company-level default configuration by enabling or disabling interest calculation for specific clients, assigning dedicated interest rules, or defining additional grace periods based on business requirements. This flexibility helps businesses maintain strong customer relationships while managing overdue payments effectively.
Interest Rules
Define and manage how overdue interest is calculated for customer invoices. The module provides flexible rule configuration options to match different business policies, allowing you to create both Flat Fee and Percentage-based interest calculation methods with easy setup and centralized management.
Flat Fee Rule View
Configure Flat Fee interest rules to apply a fixed penalty amount on overdue customer invoices, regardless of the invoice total value. This method is ideal for administrative late payment charges where a constant fee needs to be applied for each overdue period.
Percentage Rule View
Configure Percentage-based interest rules to calculate overdue charges dynamically based on the remaining invoice balance. This method is ideal for businesses that want to apply interest proportionally according to the overdue amount and delay duration.
Full Process Flow View
The module provides a complete workflow for managing overdue invoice interest, starting from overdue invoice detection to automatic interest calculation and final debit note generation. The process supports both Flat Fee and Percentage-based interest configurations for flexible financial management.
Scenario 1: Flat Fee Application
1. Overdue Detection
The system automatically detects customer invoices that have passed their due date and become eligible for overdue interest calculation. Once an invoice exceeds the configured grace period, it is marked for interest processing according to the assigned interest rule.
- Automatically identify overdue customer invoices
- Validate overdue duration based on configured rules
- Check applicable customer and company interest settings
- Prepare invoices for automatic interest application
2. Trigger Calculation View
A dedicated Preview Interest button appears on overdue invoices, allowing users to preview interest charges before applying them.
- Preview interest instantly
- Review charges before posting
- Avoid accidental interest application
The preview shows calculated overdue charges in real time without creating accounting entries immediately.
3. Calculation Preview View
Review the detailed interest calculation before applying charges to the invoice. The preview wizard provides complete transparency by displaying overdue duration, applied rules, and the final calculated penalty amount.
4. Apply Interest View
After reviewing the calculation preview, use the Apply Interest action to confirm and process the overdue interest charge on the invoice.
5. Generated Invoice (Draft) View
After applying the interest, the system automatically generates a new customer invoice (Debit Note) for the calculated overdue interest amount.
6. Smart Button Access View
Easily navigate between overdue invoices and their related interest entries using dedicated smart buttons integrated into the invoice form view.
7. Final Interest Record View
Access the final generated interest record to review the completed overdue charge details and validate the applied penalty calculation.
Scenario 2: Percentage Based Calculation
Configure percentage-based interest rules to automatically calculate overdue charges based on invoice balance and overdue duration.
1. Percentage Rule Setup
- Apply interest on outstanding invoice balance
- Support flexible late payment policies
- Suitable for recurring interest calculations
This setup helps businesses calculate overdue interest proportionally based on customer outstanding amounts automatically.
2. Invoice Analysis View
The system continuously analyzes customer invoices configured under Percentage-based interest rules to determine overdue eligibility and calculate applicable charges.
3. Calculation Details View
Review the detailed percentage-based interest calculation before applying the overdue charge. The system automatically computes the interest amount using the configured percentage rate, outstanding invoice balance, and overdue duration.
4. Resulting Interest Invoice View
After confirming the percentage-based calculation, the system automatically generates a separate Interest Invoice for the overdue charge amount.
Interest Calculations History View
Maintain a complete audit trail of all overdue interest calculations performed in the system. The Interest Calculation History menu records every calculation run, ensuring transparency, traceability, and full financial accountability.
Remove the groups attribute from the tab definition:
<!-- Before -->
<page id="aml_tab" string="Journal Items"
groups="account.group_account_readonly"
name="aml_tab">
<!-- After: remove the groups attribute -->
<page id="aml_tab" string="Journal Items"
name="aml_tab">
To print query results, simply click the 'Print PDF' button. You can also configure the page layout through the PDF orientation wizard to ensure your data fits perfectly on the report.
Key Features
Support & Customization
We're here to help you with setup, customization & support
🚀 Free Installation Support
One-time free setup on Odoo server with proper configuration.
Third-party or custom development requests may be chargeable.
Odoo Experts | ERP Solutions | Custom Development
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