I am working on a project that sells on credit and provides financing plans. For example, the item A is sold for 10,000 and can be paid in 6, 8, 12, 24, or 36 payments/months.
The interest charged depends on the number of payments (from 1% to 10% per year).
If the customer pays on time (for example, on the 5th of each month), the system must charge interest and also decrease the amount of money that is pending collection in their account. At the same time, this money must be deposited in cash or bank. It is also possible to make capital payments or full payment of the debt in advance.
If the customer does not pay on time, a late payment fee is generated.
At the time of the sale, the customer is also provided with a payment plan, a repayment table for their loan if they choose that methodology.
Is there any module that covers part of this functionality in Tryton? If not, what would be the best way to start development?
Sometimes clients do not pay on time, generally the invoice is generated until the client is going to pay, and the amount of the invoice depends on the interest it carries up to that moment.
I think late-penalty could work, but in the way I mentioned above.
But the system should generate the invoice the day when the customer must pay, may a reminder of payment date but if the customer doesn’t pay no invoice is generated, instead the interest continue and when the client go to pay the system calc the interest amount and generate the invoice. A customer may not pay even in 2 or more months, but when he goes to pay the system generate the invoice with the amount to pay.
a kind of catch-22 situation.
If the invoice must include the penalty, I think it must cancel-and-replace the invoice which generated the initial debt.
Payment term does not fit well for long terms (especially when across multiple fiscal year).
For me what you are looking for is a kind of credit management like a bank with interest computation etc. So it will have to emit invoice at term and if the invoices are not paid on due date add fees to the credit amount (for which interest will be computed).