(ID# 190) This A/R option in Options Configuration is the monthly interest rate you charge on unpaid balances. It applies to customers whose Finance Charges field in the Customer Maintenance window is Y, 2, 3, 4, or F.You can charge this rate on all unpaid balances. If you charge a different rate on balances greater than a certain amount (the Finance Charges Level 1 % Cutoff Amount), this is the rate your charge on that portion of the balance up to the Level 1 cutoff amount.
This field is numeric. You can enter up to four numbers plus a decimal point. For example, 99.99.