You must add at least one interest profile to Accounts Receivable before you can add customer records, and you must assign an interest profile to each customer. If you do not charge interest to customers, assign them to an interest profile with 0 (zero) as the annual rate.
You can set up as many interest profiles in Accounts Receivable as you need for the ways and rates with which you assess interest charges. For information about how Accounts Receivable calculates interest on outstanding documents or balances, see About Calculating Interest Charges.
By default, the interest profile for a customer group is assigned to customer and national account records in the group (for example, when you add a new customer to a customer group, or change a customer's group). However, you can change the interest profile for a customer in the customer record.
Note: National account customers use the national account's interest profile. You can change a customer's interest profile only by changing the interest profile for the corresponding national account.
Numbering Interest Invoices
Use the Numbering tab on the A/R Options screen to specify a prefix for interest invoice numbers. For example, you might enter a prefix of INT. This prefix identifies interest charges on invoices, statements, and reports.
You can also specify the number to assign to the next interest invoice. Accounts Receivable then automatically increases this number by 1 for subsequent interest invoices.
Multicurrency Interest Profiles
If you use multicurrency accounting, you must specify a minimum interest charge and annual interest rate for each currency used by the customers assigned to a particular interest profile.