(ID# 210) This A/R option in Options Configuration is the lowest amount you assess as a finance charge to an account.
If the system calculates a finance charge (using the Level 1 % field) that is less than this amount, it increases the finance charge to this amount.
For example:
This field is 1.00. The system calculates a finance charge of $.80. Since the finance charge is less than 1.00, the system increases the finance charge to $1.00.
This field is numeric. You can enter up to four numbers plus a decimal point. For example, 99.99.
If this field is blank, the finance charge that the system calculates always applies, regardless of how small the finance charge is.
Warning: State laws may restrict you from using this field.