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Define Interest Invoice Interest Rates

You must define the interest rates that you will use when you calculate interest on overdue invoices and late payments. There are two types of interest calculation methods available, and you must set the interest rate for the method that you are using.

You can calculate interest on a daily and/or monthly basis in Interest Invoice.

Navigate to the Define Special Quickcodes window in Application Developer.

eur90000.gif If you are calculating interest on a daily basis, query back the QuickCode with a Type of JGZZ_INT_INV_DAILY_RATE. Navigate to the Values region. Enter DAILY in the Code field and the interest rate in the Meaning column.

eur90000.gif If you are calculating interest on a monthly basis, query back the QuickCode with a Type of JGZZ_INT_INV_MONTHLY_RATE. Navigate to the Values region. Enter MONTHLY in the Code field and the interest rate in the Meaning column.

Whenever you want to change the interest rate, navigate back to the Define Special QuickCodes window and query back the interest rate you have just created. You can update the interest rate with the new interest rate.

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