Maintenance in Infor LN

This topic describes the maintenance processes interest rates in Infor LN 10.7 for Poland localization.

Setup interest rates

To configure interest rates, you must define this data:
  • interest rate codes in the Interest Rate Codes (tfacr5103m000) session
  • interest rates in the Interest Rates by Days Overdue (tfacr5104m000) or Interest Rates by Dates (tfacr5105m000) sessions

In the Interest Invoice Related Data (tfacr5101s000) session, you can define a separate invoicing method for interest invoices to allow to link to interest notes a report different from a standard invoice.

You must link interest rate codes to business partners in the Invoice-to Business Partners (tccom4112m000) session.

Interest Rate Codes (tfacr5103m000): The session is used to define an interest rate code for every penalty interest table.

After double-clicking a record in the Interest Rate Codes (tfacr5103m000) session, the Interest Rate Codes (tfacr5603m000) session open with one of the following satellite sessions, depending on the value selected for the Calculation Method field:
  • Interest Rates by Days Overdue (tfacr5104m000)
  • Interest Rates by Dates (tfacr5105m000)

Interest Rates by Days Overdue (tfacr5104m000): The session is used to maintain interest percentage for each interest rate code where the Calculation Method is set to Days Overdue. The percentage is used to process interest invoices. You must specify the minimum number of days after which interest is calculated on invoices.

Interest Rates by Dates (tfacr5105m000): The session is used to maintain interest percentage for each interest rate code where Calculation Method is Periodical Interest. The percentage is used to process interest invoices. You must specify the effective dates since when interest is calculated on invoices.

Accounts by Financial BP Group (tfacr0110m100): The session is used to link interest rate codes to financial business partner groups. In order to open it, start the session Financial Business Partner Groups (tfacr0110m000) and double-click the selected business partner group record.

Invoice-to Business Partner (tccom4112s000): The session is used to link an interest rate code to the selected invoice-to business partner. In order to open it, start the session Business Partners (tccom4500m000), double-click the selected business partner record, and click its Invoice-to role.

Select Invoice-to BP Invoices/Receipts for Interest Invoices (tfacr5210m000): The session is used to select the invoices on the basis of which interest will be calculated. Interest amount is calculated in accordance with the rates indicated in the interest table assigned to the business partner or the financial business partner group.

Reminder Letters (tfacr3508m000): The session is used to determine if the interest rate codes linked to business partners or financial business partner groups should be used to calculate interest for reminders.

Print Reminder Letter (tfacr3405m100): Use the session to print reminders and requests for payment concerning expired invoices. If Use Interest Rate Code is selected in the session Reminder Letters (tfacr3508m000), then interest amount is charged in accordance with the rates indicated in the interest table assigned to the business partner or the financial business partner group.