Charging Interest

Charging interest to the customer's accounts will likely be done once a month and the system is setup to allow for interest charges on account that are 60 days (or more) overdue.

1. Click Admin
2. Click Customers
3. Click Batch/Automated Payment
4. Click Interest Charges
5. Select the account charges will be applied to. 
6. Select the month charges are being applied to. 
7. Select the year charges are being applied to. 
8. Select the Payment Date - the date you want to appear on the customer's statement as the date the interest was charged on. You can select past dates but not future dates. 
9. Select the override option if you want to override the rates specified on the customer's profiles and apply the same rate to everyone. 
10. Click Generate Interest Charges
11. Click Print
12. An Interest Charge Report will open that will list the customers and the amount of interest they will be charged. This report can be printed or closed. 
13. Click Apply
14. Click Ok