Payment Due Date Interest Penalty Discounts FEB 28 DAYS APR JUN SEP NOV Billing Office Terms 30 DAYS Contract: Invoice Dated: + days = Discount Payment Due Date Received In Billing Office: LATER DATE Terms: + 30 days + 7 = Receiving ROG: Report AOG: Payment Due Date = EARLIER DATE Interest Penalty Julian Date Daily Percentage Factor Interest Rate Principle Interest Amount ECPD: - PDD: X X = X X = = Days Late X X = * Note - Add the total of the “Interest Amount” column to the original amount of principle to get the payment amount. X X = Discounts Step 1: Principle X Discount % = Discount Amount Step 2: Principle - Discount Amount = Cost to Government