This field is on the Payment tab of the Customer Maintenance window.
Indicates if this account is subject to finance charges or late charges, and what portion of the balance is subject to finance charges or late charges.
Here are the options for balance forward and open item accounts. If the Calc Meth field in Function MCT (A/R Control File Maintenance) is A:
Y = Account is subject to finance charges on any past due balance.
2 = Account is subject to finance charges on balances 30 days or more past due.
3 = Account is subject to finance charges on balances 60 days or more past due.
4 = Account is subject to finance charges on balances 90 days or more past due.
N = Account is not subject to finance charges.
If the Calc Meth field in Function MCT is P, I, or X:
Y, 2, 3, and 4 = Account is subject to finance charges based on the calculation method in Function MCT.
N = Account is not subject to finance charges.
Here are the options for revolving charge accounts.
F = Account is subject to finance charges, but not late charges.
L = Account is subject to late charges, but not finance charges.
Y = Account is subject to finance charges and late charges.
N = Account is not subject to finance charges or late charges.
This field defaults to Y