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

4. Enter Rate or Amount in the interest type field.

Note: If you enter this parameter, you must enter parameters in the remaining interest fields.

5. Enter the interest rate or amount that is calculated per period in the Interest Rate/Amount field. The rate must be between 0 and 100.

6. Enter the number of days in the interest period in the Interest Period field.

7. Enter Simple or Compound for the interest formula.

8. Enter the number of grace days in the payment period.

9. Enter Rate or Amount in the penalty type field.

Note: If you enter this parameter, you must enter parameters in the remaining penalty fields.

10. Enter the penalty fee rate or amount that is calculated per period in the Penalty Rate/Amount field. The rate must be between 0 and 100.

Note: If the invoice you enter was already matched with a collection document, the collection document number is displayed in the Associated field. This field is display only.

11. Press the OK button.