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RE:[sap-acct] Late Payment Interest to Vendor

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Posted by Tetrapower(Mr.)
on 07/11/2009 10:23:00 PM

By rule of the thumb, net1 denotes 1 day credit term - i.e. payment opon receipt of goods. Since payment is more than 30 days, it is no longer regarded as Net1, it is Net30 etc., hence interest should be calculated accordingly if vendor do not agree to change the credit term from Net1 to Net30 etc.,
Regards,
Tetrapower
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