Interest Percentages (tfacr5102m000)

Use this session to maintain interest percentage for each financial customer group. The percentage is used to process interest invoices.

You must specify the minimum number of days after which interest is charged on invoices.

Note: If you have started this session by zooming, you can only find and select a record.

Field Information

Financial Business Partner Group

The financial business-partner group for which the interest percentage is maintained.

Minimum Days for Interest Invoice

The number of days by which a payment is overdue.

Interest Percentages

The applicable interest percentage (on an annual basis).

Example

A payment of $2000.00 is 10 days late. The interest percentage is 12%.

The interest amount to be paid is: $2000.00 x 10/365 x 0.12 = 6.58.