See also:
Autoline uses the overdue interest codes and the overdue interest general parameters to calculate interest on open transactions.
After you have set up the overdue interest codes and general parameters, you can select open transactions per account from the Select Overdue Interest Proposals Form and calculate the overdue interest for each transaction.
What do you want to do?
This form is displayed when you click Manufacturer-specific > X2. Generic - Accounts > Menu - Utilities > Generic Accounts Parameters and you browse to + Controlling > + Overdue Interest Codes > [no. Company name] > [Record] on the Project parameters browser. It maintains Overdue Interest Codes parameter records for the selected company.
Interest Code: One character code that identifies the interest code (user defined).
Code Description: Brief description of the interest code (maximum 20 characters and user defined).
Credit Interest: Determines if any credit interest should taken into account in the overdue credit interest calculation. The default is No (field is left blank).
Interest Minimum: Minimum interest amount for an interest invoice. Defaults to zero. If the amount is left at zero, the Interest minimum handling field is deactivated and the field of the same name is set to blank.
Interest Minimum Handling: Handling options for minimum interest amount. If the Interest Minimum field is left blank, this field is deactivated.
Z - Any interest amount less then the interest minimum value is set to zero.
R - Any interest amount less then the interest minimum value is set to the interest minimum value.
Interest Rounding: Determines if the interest amount should be rounded to the nearest whole number. The default is No (field is left blank).
Interest Editable: Determines if the interest code should be editable in Overdue Interest Calculation. The default is No (field left blank).
Charge, if account balance is zero: Determines if interest should be calculated if the account balance is less than zero at the overdue interest calculation date. The default is No (field is left blank). If the field is left blank and the account is balanced at the overdue interest calculation date, no interest will be charged for the last period and the account does not appear on the proposals list.
Before you can add interest rates, you need to create overdue interest rate codes per company.
To add a new overdue interest code:
Click New or the 
icon.
The Overdue Interest Codes form is displayed.
Click Amend and enter Interest code, Code Description, Credit interest, Interest minimum, Interest minimum handling, Interest rounding, Interest code editable and Charge, if account balance is zero fields.
Click Save, to save your changes.
Your overdue interest code parameters are represented as a parameter element in the browser, with the Interest code appended.
You amend an Overdue Interest Code if you need to change the parameters for some reason.
To amend an Overdue Interest Code:
Click the Interest code element that represents the settings you want to change.
The Overdue Interest Codes form is displayed for the Interest code you selected.
Click Amend and make the changes.
Click Save, to save your changes.
If it is necessary to delete an Overdue Interest Code, proceed as follows.
To delete an Overdue Interest Code:
Click the Interest code element that represents the parameters you want to delete.
The Overdue Interest Codes form is displayed. It shows the Overdue Interest Codes parameters of the selected Interest code element.
Click Amend.
The Delete button is activated.
Click Delete.
You are prompted to confirm deletion.
The record is deleted and the parameter element is removed from the browser.
You add interest rates to overdue interest rate codes per company. New interest rates must have a start date that is before the current interest calculation date.
Warning: Once a new interest rate is saved you cannot change it.
To add a new interest rate:
Click the Interest code element you want to add an interest rate to.
Click Amend.
Right-click the header of the Interest rate/Start date grid.
Click Add.
A blank line is added to the grid.
Enter the interest rate as a percentage (%) in the Interest Rate field.
Enter the start date of the new interest rate in the Start date field.
Click Save
The new interest rate is saved and will be used in the first interest calculation after the interest rate start date.