I am currently having a difficult time trying to determine the correct calculation that would asses finance charges on all outstanding bills thirty days past due. Any info would be a great help.

thank you

I'm not sure which aspect of such a calculation you're having trouble with, but try something like this:

Case(

Interest charges are generally easier to handle if you are keeping track of customer balances rather than individual invoices or bills. If you have a customer balance and issue statements once a month it's easy to add interest. Customer balance is calculated as total charges minus total payments. If the balance is not zero at the time of month when you issue statements, you simply create a finance charge billing item equal to the customer's balance times the monthly interest rate. If you do it this way, the interest will compound automatically (and correctly) every month.

Great tip Bob!

Chuck