1.Enter the ending date for calculation in the Calculation Date field. All invoices with an outstanding balances, that were delivered on or before the calculation date, will be assessed a finance charge.

 

•Only customers that have the Finance Charge option checked in Customer Maintenance will be subject to finance charges being assessed on unpaid invoices.

 

2.Enter the percentage rate, to assess upon the unpaid balance of the invoice, in the Percentage field.

 

•This value will default to 1.5, which calculates out an annual percentage rate of 18%.

 

3.Click the OK button.

 

•A dialog will be displayed informing the user of the total amount of finance charges that were added to accounts receivable. Click the OK button to return the user to the entrée application window.