Use the Late Charges subtab of the Account Overview page to add and update the late charge profiles of existing accounts.

The values for most fields on the Late Charges subtab are defaulted from the assigned customer profile class. See: Setting Up Late Charges.

The defaulted values are updatable. For example, even if your organization has a late charge policy, you can exclude a customer account from late charges by deselecting the Enable Late Charges box in the Late Charges subtab.

If balance forward billing is enabled for this customer account, then you can select the Average Daily Balance charge calculation method. Selecting this particular charge calculation method has the following impact on the Late Charges subtab:

• These fields are not available:

  • Credit Items

  • Disputed Transactions

  • Use Multiple Interest Rates

  • Interest Days Period

  • Interest Calculation Period

  • Hold Charged Invoices

  • Minimum Invoice Amount Overdue

• These fields are not updatable:

  • Late Charge Type

    This value defaults to Invoice.

  • Interest Calculation Formula

  • Payment Terms

    This value defaults from the payment term on the balance forward bill.

Prerequisites

• Define your late charge policy.