There are settings available to display interest on the customer’s statement. On the Customer Master there is a check box to Prin Interest in Customer Statement. Then on the print form for the statement has setting for the interest rate and grace period.
AR → Print Customer Statements
In the parameters for the Classic statement there is a checkbox Past Due Interest. Once the box is checked two additional options are shown.
Past Due Interest %: Input the interest percentage to display on the statement.
For Grace Days Past Due: Input for a number of days for a grace period until interest is charged.
When the statement runs for a Customer that is checked off to print interest the interest amount will display in the total for the statement. The is interest is for display only and is not added to the customers open AR. If are going to take a payment for the interest then a manual invoice would need to be entered to apply the payment to.
[^0] [^0]: Note : CBK - Chargeback, CRB - Creditback, BOU - Unpaid Check, OTH - Misc / Other Invoices, INV - Invoices, CR - Credit Memo, P - On Acc