Use the drop down list in Order by to select Name or ID to select the customer order on this report.

In Name Range, select

• All Names - Include all names that have been offered delayed terms.
• From - Beginning range of accounts.
• To - End of the range of accounts.

Select the Previous Assessment Date which is the date Delayed Terms Interest Charges were last calculated.

The current Assessment Date defaults to the last day of the previous period.

Enter any Customer Group as entered on the customer account Settings tab.

GL Period defaults to the last period. Select the drop down to choose the current period.

Type of Process -

• Proof Run (No Updating) - Select to review the accounts and delayed terms interest amount charged.

Select Preview to view the report onscreen.

Select Print to send the report directly to the default printer.

• Live Run (Updating) - Post delayed terms interest to accounts.

Delayed Terms Interest is calculated using the same Average Daily Balance method as finance charges - (((Interest Rate * Invoice Amount) / 365) * # of Days in Assessment Period the invoice was due). I.E.- Interest is assessed on an invoice for $3000, due on May 31st, at a rate of 18% from July 31st through August 31st. The interest charge would be - (((.18 * $3000) / 365) * 31) = $45.86

When interest is posted it will debit Accounts Receivable and credit the Delayed Terms Interest Charge GL Account set on the AR > Interest and Finance Charges tab found in Merchant Ag FIN > Admin > Installation > Access Parameters.