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This task generates Interest Charges to Customers based on your specifications.

Interest Charges apply to outstanding Debit transactions whose Charge Interest field is checked (e.g. True) and whose NetDate is before the Cutoff Date you specify.

 

To protect against duplicate Interest Charge transactions being processed the system will not generate Interest Charges for a Customer who already has a transaction whose ArType is IntCharg in the same accounting period as this Trans Date.

 

 

ArSubledger

Select Customers in this Subledger.

 

Interest Rate        

Use this rate to calculate interest charges. This rate is expressed as a percentage i.e. 1.500 means one and one-half percent.

 

Minimum Charge

If the calculated interest charge amount is less than this minimum charge then charge the Customer this minimum charge.

 

Exempt Balance        

Do not charge interest if the total of eligible transactions does not exceed this amount.

 

Cutoff Date

Select outstanding Debit transactions whose Net Date is before this cutoff date.

 

Trans Date        

Use this transaction date for any Interest Charge transactions generated.

 

Choose Ok to generate interest charges or choose Cancel to just exit.