If you do not assign an interest rate to a currency in the Customer Profile Classes window, then Receivables does not calculate late charges for past due items in that currency.

For example, a customer does business in two currencies, USD and EUR. Both currencies have a past due balance, but no rate is assigned to either the customer account or site level profile for EUR:

• Late charges were last calculated on June 30, and you now calculate late charges on July 31.

  For the period from July 1 to July 31, Receivables calculates late charges for USD, but not for EUR.

  Note: Receivables first checks the charge beginning date on the customer's late charge profile to confirm when to start assessing late charges for this customer. In this example, the charge beginning date is January 1.

• Next, you assign a rate to EUR and calculate late charges on August 31.

  For the period from August 1 to August 31, Receivables calculates late charges for past due items whose currency is USD. Receivables also calculates late charges for any past due items whose currency is EUR, starting from the charge beginning date of January 1.