Payment made to Vendors before due date adjustment of Interest

Hi SAP Gurus,
The Practical scenario of the client is like this
Suppose Invoice is booked on 01.10.2007 for an amount of Rs.100000. The due date for payment is 31.10.2007. But the actual payment is made on 20.10.2007.
In this situation the Client wants to deduct some interest for early payment which has to be calculated daywise.Assuming that the interest rate is 5% P.A.
The Interest amount should be calculated as Rs.1774 (Rs.1000005%11/31).
Then at the time of payment only Rs.98226 (Rs.100000-Rs.1774) must be paid.
How to configure this scenario in Standard SAP?
Regards
V.Krishnan
(Points assured)

The Scenario explained is with respect to Vendors and Not Customers.
Kindly advise in this respect.
Moreover interest calculation has to be made day wise for different line items
(ie) for one line item the payment would have been made 10 days before the due date. for another line item the payment would have been made 5 days before the due date. For the first line item the system should calculate interest for 10 days and for the second line item it should calculate interest for 5 days.
Kindly advise

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