Setting up interest charges on overdue debts

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When a finance charge is assessed for the late payments, an additional fixed administrative fee can be charged.

  1. Select Financials > Receivables > Setup > Receivables Companies.
  2. Open a company.
  3. On the Finance Charge tab, select the Administrative Fee check box.
  4. On the Accounts tab, select a Finance Charge Admin Fee Code.
  5. Click Save.
  6. Select Financials > Receivables > Manage Customers > Company Customers.
  7. Select the Process Rules tab.
  8. In the Finance Charge Options section, specify an amount in the Fixed Administrative Fee field.
  9. Click Save.