Overview
The Interest Profiles report lists the information entered to define the interest profiles used in your Accounts Receivable system.
You assign an interest profile to each customer record to specify the method, timing, and rates used to charge interest on the customer's overdue documents or balance.
When to Print
Print the report when you add, change, or delete interest profiles.
Information Printed on This Report
The Interest Profiles report includes the following information:
- The general ledger interest income account that is credited when you post revenue from interest charged to customers assigned to the interest profile.
- A Charge Interest On column that indicates whether the profile charges interest on overdue documents (invoices and debit notes) or on overdue account balances.
- A Charge Interest On Accounts column that lists the number of days a document or account balance must be overdue to be charged interest.
- A Compound Interest column that indicates whether interest charges are compounded (that is, whether interest is charged on previous interest charges that are unpaid and overdue).
- If the interest profile specifies a minimum interest charge (shown in the Minimum Interest column) and rounds lesser charges up to the minimum amount, "Yes" appears in the Round Up To Minimum column. Otherwise, no interest is charged if the calculated amount is less than the specified minimum.
If you use multicurrency accounting, you can assign a different minimum interest charge and annual interest rate for each currency used by the customers assigned to the profile. The report lists the minimum charge and annual rate for each currency code.