Previous	Next		Contents	Index	Glossary	Library

2. Navigate to the globalization flexfield. For instructions, see Using Globalization Flexfields.

3. Enter Rate or Amount in the Interest Type field to calculate interest for past due invoices.

4. Enter either the rate or amount in the Rate/Amount field.

5. In the Interest Period field, enter the number of days that interest charges are calculated over.

6. In the Interest Formula field, enter Simple or Compound to indicate the formula used to calculate interest.

7. In the Grace Days field, enter the number of receipt grace days that customers can be overdue on receipts before you charge interest.

8. Enter Rate or Amount in the Penalty Type field to calculate how to charge your customers a late payment penalty.

9. Enter either the rate or amount in the Rate/Amount field.

10. In the Interest Batch Source field, enter the transaction source that is used to generate an interest debit memo.

11. In the Interest Transaction Type field, enter the transaction type that is used to generate an interest debit memo.

12. In the Interest Receipt Method field, enter the receipt method that is used to generate an interest debit memo.

13. Press the OK button.