Interest Rates by Dates (tfacr5105m000)
Use this session to view and maintain interest percentage for the Interest Rate Code for which Calculation Method is set to Periodical Interest. This percentage is used to process interest invoices. You must also specify the dates from which the interest must be charged on the invoices.
Field Information
- Interest Rate Code
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The code for the penalty interest. Penalty interest is calculated for interest amount that is overdue.
- Description
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The description of the Interest Rate Code.
- Effective Date
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The dates from which the interest percentage is effective to charge interest on the overdue invoices.
- Interest Percentages
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The annual rate of interest to be charged on the overdue invoices.