Calcu(Late)- Automate Overdue Invoice Penalities
by Kanak Infosystems LLP. https://www.kanakinfosystems.com$ 35.16
| Availability |
Odoo Online
Odoo.sh
On Premise
|
| Odoo Apps Dependencies |
•
Invoicing (account)
• Discuss (mail) |
| Lines of code | 162 |
| Technical Name |
overdue_penalty_calculation_knk |
| License | OPL-1 |
| Website | https://www.kanakinfosystems.com |
| Availability |
Odoo Online
Odoo.sh
On Premise
|
| Odoo Apps Dependencies |
•
Invoicing (account)
• Discuss (mail) |
| Lines of code | 162 |
| Technical Name |
overdue_penalty_calculation_knk |
| License | OPL-1 |
| Website | https://www.kanakinfosystems.com |
Community
Enterprise
Odoo.sh
Calcu(Late)- Automate Overdue Invoice Penalities
The Calcu(Late)- Automate Overdue Invoice Penalities module helps automate penalty calculation on overdue invoices. You can configure penalty rules and automatically generate the corresponding journal entries based on the overdue amount.
To configure Penalty Rules in Odoo, follow these steps:
- Navigate to the Accounting app and go to Configuration > Payment Terms.
To configure Penalty Rules in Odoo, follow these steps:
- Navigate to the Accounting app and go to Configuration > Payment Terms.
- Open an existing payment term or create a new one.
- In the Overdue Penalty section, set the Penalty Percentage you want to apply for overdue payments.
- Choose the Penalty Type as Daily or Monthly, depending on how you want the penalty to apply.
- Save the configuration to enable automatic penalty calculation for overdue invoices.
To create an invoice and apply the configured payment term in Odoo, follow these steps:
- Navigate to the Accounting app and go to Customers > Invoices.
- Create a new invoice and fill in the required information.
- Select the Payment Term you configured with the overdue penalty.
- Confirm the invoice to apply the penalty rules automatically when overdue.
Please note that the penalty percentage you set will be applied on the amount due in the invoice at the time of penalty calculation.
To check or manage the scheduled action for applying overdue penalties, follow these steps:
- Navigate to Settings > Technical > Scheduled Actions.
- Find the scheduled action named "Apply Overdue Invoice Penalties".
- This scheduled action runs every day to automatically apply penalties on overdue invoices.
- You can also run this action manually from here whenever needed.
To view the journal entries created for overdue penalties, follow these steps:
- Navigate to Accounting > Accounting > Journal Entries.
- Here you can see the entries posted for invoice penalties.
- If the penalty type is set to Daily, entries are created every day for overdue amounts.
- If the penalty type is set to Monthly, entries are created once per month.
In the image below, you can see the journal entries for the configured daily penalty.
In the image below, you can see the detailed view of a penalty journal entry record.
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