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Payment Due Date Interest Penalty Discounts

Published byDeddy Atmadja Modified over 5 years ago

Presentation on theme: "Payment Due Date Interest Penalty Discounts"— Presentation transcript:

1 Payment Due Date Interest Penalty Discounts
Today’s Date Payment Due Date FEB DAYS APR JUN SEP NOV Billing Office Terms 30 DAYS Contract: + term days = Discount Payment Due Date Invoice Dated: (of invoice received or earlier date block) LATER DATE Received (In Billing Office): Terms: + 30 days = CAD Payment Due Date ROG + 7 = Receiving Report EARLIER DATE AOG (CAD or AOG) (if given) Interest Penalty Julian Date Daily Percentage Factor Interest Rate Principle Interest Amount ECPD: X = - PDD: = Days Late * Note - Add the total of the “Interest Amount” column (s) to the original amount of principle to get the payment amount. = Discounts Step 1: Principle X Discount % = Discount Amount Step 2: Principle - Discount Amount = Cost to Government PE 1

2 Payment Due Date Interest Penalty Discounts
Today’s Date Payment Due Date FEB DAYS APR JUN SEP NOV Billing Office Terms 30 DAYS Contract: + term days = Discount Payment Due Date Invoice Dated: (of invoice received or earlier date block) LATER DATE Received (In Billing Office): Terms: + 30 days = CAD Payment Due Date ROG + 7 = Receiving Report EARLIER DATE AOG (CAD or AOG) (if given) Interest Penalty Julian Date Daily Percentage Factor Interest Rate Principle Interest Amount ECPD: X = - PDD: = Days Late * Note - Add the total of the “Interest Amount” column (s) to the original amount of principle to get the payment amount. = Discounts Step 1: Principle X Discount % = Discount Amount Step 2: Principle - Discount Amount = Cost to Government PE 1

3 Payment Due Date Interest Penalty Discounts
Today’s Date Payment Due Date FEB DAYS APR JUN SEP NOV Billing Office Terms 30 DAYS Contract: + term days = Discount Payment Due Date Invoice Dated: (of invoice received or earlier date block) LATER DATE Received (In Billing Office): Terms: + 30 days = CAD Payment Due Date ROG + 7 = Receiving Report EARLIER DATE AOG (CAD or AOG) (if given) Interest Penalty Julian Date Daily Percentage Factor Interest Rate Principle Interest Amount ECPD: X = - PDD: = Days Late * Note - Add the total of the “Interest Amount” column (s) to the original amount of principle to get the payment amount. = Discounts Step 1: Principle X Discount % = Discount Amount Step 2: Principle - Discount Amount = Cost to Government PE 1