Defining Finance Charge Codes

This procedure describes the process for defining finance charge codes and percentage rates. Defining finance charge codes allows you to assess finance charge fees and late payment fees.

To define finance charge codes

  1. Access Finance Code (AR07.1).
  2. Type a code and description for the finance charge you want to use.
  3. Click the Rates button, to open Finance Charge Rates (AR07.2). Define when and how often finance charge rates are charged. At least one finance rate must be defined. If you have chosen the interest rate by date option in Company (AR01.1), you can define a different rate for different effective dates.

Related Reports and Inquiries

To Use
list the information defined for each finance charge code. Finance Charge Listing (AR207)
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