How to change interest computation based on partial payment rather than whole amount of loan?
The took a USD4 million short-term loan from X Company last December 2014 which will be due on February 2015 (60 days).
The company will be making a partial prepayment in the amount of USD1 million plus accrued interest on the USD1 million. However, SAP is currently configured to compute accrued interest based on the entire loan amount of USD4 million instead of just on the partial prepayment amount of USD1 million.
How can this be corrected? I hope you can help as this is urgent.
Thank you very much.