Good morning, I am having an issue with a Municipality that is charging me interest on an overdue account even though they have received payment on or before due date.

It seems that they are receipting the payments received on the day that they are capturing them ie paid 27/02/2021 at 08H59 and receipted as 01/03/2021. The EFT payment was effected well within the clearing times of the Automated Clearing Bureau and will have showed on their account as 27/02/2021.

When I raised the matter verbally with a member of their staff I was advised that it takes 3 days to show and that I must pay earlier which is a load of hogwash.

I had a similar problem with a previous municipality and they sorted out the problem and reversed the penalties charged with no problem, I have now been charged penalties every month since we relocated to our new home and as far as I am concerned they are wrong.

I assist my daughter with her accounting functions and EFT payments are receipted as value on the date stated in her bank statement, I understand that this is the procedure as far as GAAP is concerned.

Can I please be enlightened as to where I can find reference to this as I have not been able to pick it up on the web.

Thanking you in advance.