Why didn't late charges appear on transactions?

The Create Late Charges process assesses late charges on customers with overdue transactions and late payments, but only for customers with a positive open balance. The process doesn't assess late charges on customers with a zero or negative balance.

If you accept advance payments from customers but don't apply them to open receivables, then as long as the customer balance remains zero or negative, late charges aren't assessed on transactions belonging to these customers.

In addition, you must ensure that you assign an interest charge to each currency that you do business in for the applicable customer profiles. If you don't assign an interest charge to a currency, then Receivables doesn't calculate late charges for past due items in that currency.

To ensure that late charges appear on transactions, enter values in the Interest Charge Type field, and either the Interest Charge Rate, Interest Charge Amount, or Interest Charge Schedule field for each currency in the Late Charges section of the customer profile.

If you also assess penalty charges, then complete the related fields for penalty charges.