Suggest you contact an accounting firm...MHamernik said:Need to set up a spread sheet that shows interest month by month on
overdue payments from several unpaid (or underpaid) invoices.
I have 13 such invoices, their unpaid amounts, aging in days, and the interest rate.
Spread sheet to start from earliest invoice up until 06/14/2019.
Ok. Hope someone else here steps in and helps you. Good luck.MHamernik said:...would appreciate it if you don't waste my time with stupid responses.
Monthly finance charges refer to the fees or interest that are added to a credit card balance if the full amount is not paid off by the due date. These charges are calculated based on the outstanding balance and the annual percentage rate (APR) of the credit card.
Monthly finance charges are typically calculated by multiplying the daily interest rate by the average daily balance for the billing cycle. The daily interest rate is determined by dividing the APR by 365 or 360, depending on the credit card company's policy.
Yes, monthly finance charges can be avoided by paying off the full balance on a credit card before the due date. This will prevent any interest from accruing on the outstanding balance. It is important to make at least the minimum payment each month to avoid late fees and potential damage to your credit score.
No, monthly finance charges can vary depending on the credit card company and the specific terms and conditions of the credit card. Some credit cards may have a lower APR, resulting in lower monthly finance charges, while others may have a higher APR, resulting in higher monthly finance charges.
In some cases, it may be possible to negotiate monthly finance charges with your credit card company. This could involve requesting a lower APR or asking for a one-time waiver of finance charges. However, this is not guaranteed and may depend on your credit history and relationship with the credit card company.