How Calculate Latefine of Simple Loan in Fycis

Explain Late fine of Simple Loan

Support Manager Asked on January 13, 2021 in Fycis.
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RE: How Calculate Latefine of Simple Loan in Fycis

RE: How Calculate Latefine of Simple Loan in Fycis

RE: How Calculate Latefine of Simple Loan in Fycis

  1. Get DateDiff = RecieveDate-GracePeriod -DueDate
  2. Get AmountDue
  3. Get OneDayInterest = LateFine / 360
  4. Calculate One DayLateFineAmount=AmountDue X  OneDayInterest /100
  5. Calculate TotalLateFine=DayLateFineAmount X DateDiff 
Support Manager Answered on January 13, 2021.
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Calculate Multiple Installment’s Late Fine

RE: How Calculate Latefine of Simple Loan in Fycis

Calcuate Installment No 48’s Late Fine same 49 and 50’s Latefine

then Total Latefine=Latefine48 + Latefine49 + Latefine 50

Support Manager Answered on January 13, 2021.
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