$ 55.58
| Required Apps |
•
Invoicing (account)
• Sales (sale_management) • Discuss (mail) |
| Technical Name |
interest_on_overdue_invoice
|
| License | OPL-1 |
| Also available in version | 17.0 14.0 |
Introduction
The Interest on Overdue Invoice module enables businesses to automatically calculate and apply penalty interest to invoices that are not paid by their due date. Interest can be computed on a daily, monthly, or annual basis depending on defined payment terms. This ensures fair compensation for late payments and reinforces timely customer settlement.
Key Features
Define penalty interest rates (daily, monthly, or yearly) linked to specific payment terms.
Automatically compute and append interest lines to overdue invoices.
Generate corresponding journal entries to reflect interest income accurately.
Support audit-worthy tracking of interest events tied to invoice due dates.
Offer flexibility in configuring triggers, such as grace periods or interest-free windows.
Benefits
Encourage timely payments by transparently applying penalty interest.
Reduce manual effort and the risk of missed calculations for overdue accounts.
Improve accounting accuracy with systematic recording of interest charges.
Maintain fairness and consistency in cash collections and credit control.
Provide clear audit trails for interest-related adjustments and accounting.
Compatibility & Technical Details
Required Modules: Invoicing (account), optional integration with payment term configurations.
Technical Name: interest_on_overdue_invoice
License: Proprietary (OPL) or open-source (AGPL), depending on the developer’s distribution.
Installation Steps:
Ensure core Invoicing module is installed and active.
Install the Interest on Overdue Invoice module.
Define interest rates in payment term settings.
Let the system auto-generate interest lines and journal entries when invoices become overdue.
Review interest adjustments via standard invoice or accounting reports.
Odoo Proprietary License v1.0 This software and associated files (the "Software") may only be used (executed, modified, executed after modifications) if you have purchased a valid license from the authors, typically via Odoo Apps, or if you have received a written agreement from the authors of the Software (see the COPYRIGHT file). You may develop Odoo modules that use the Software as a library (typically by depending on it, importing it and using its resources), but without copying any source code or material from the Software. You may distribute those modules under the license of your choice, provided that this license is compatible with the terms of the Odoo Proprietary License (For example: LGPL, MIT, or proprietary licenses similar to this one). It is forbidden to publish, distribute, sublicense, or sell copies of the Software or modified copies of the Software. The above copyright notice and this permission notice must be included in all copies or substantial portions of the Software. THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.