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3. Navigate to the globalization flexfield. The Additional Information window appears. For instructions, see Using Globalization Flexfields.

Note: The interest default parameters for a customer that you defined in the Customer Profile Classes window appear in the globalization flexfield.

4. In the Interest Type field, enter or modify an interest type (Rate or Amount) for calculating the interest amount.

5. In the Rate/Amount field, enter or modify a rate or amount.

6. In the Interest Period field, enter or modify the number of days in the period for the interest charge.

7. In the Interest Formula field, enter or modify a Simple or Compound interest formula.

8. In the Grace Days field, enter or modify the number of days that customers can be overdue before interest is charged.

9. In the Penalty Type field, enter or modify a penalty type (Rate or Amount) if you want to charge a penalty amount to your customers.

10. In the Rate/Amount field, enter or modify a penalty rate or amount.

11. Press the OK button.