Finance Charge Information
This option is found on the General Set-Up sub-menu and is used to define criteria for calculating and generating finance charges against outstanding client balances. Finance charges are created based on this information when the Create Late Charges routine is executed.
NOTE: Terms of payment codes entered against client records are not considered when creating finance charges.
ENTER ENTITY (???=SEARCH) >
Enter a valid entity. One finance charge set-up may be defined for each entity.
NUMBER OF DAYS
Enter the number of days the balance must be past due before finance charges will be assessed.
Enter any minimum charge to be assessed if applicable.
Enter the annual percentage rate to be used for calculating the finance charge.