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In the Interest by range field, select None. In the Ledger posting debit field, select the ledger account where the interest earnings will be posted.
#How to set up rates in shopkey pro code#
In the Calculate interest every field, enter the rate of recurrence for the calculation and select the unit of time for the recurrence.įor example, to set up an interest code that assesses 5 percent interest for every two months that the invoice payment exceeds the transaction due date, you would enter 2 in the Calculate interest every field and select Month. Select an interest code, or click New to create an interest code. To set up interest rates for interest that you pay, use the Payments tab, instead.Ĭlick Accounts receivable > Setup > Collections > Interest. You use the Earnings tab in the Interest form to do this.
#How to set up rates in shopkey pro how to#
This procedure explains how to set up interest rates for interest that you earn by charging interest. The same percentage applies to all currencies that are specified for the interest code. You can set up interest rates that calculate a specified percentage. Set up interest rates based on percentages When an interest code is used to calculate interest, a separate interest note is created for each interest rate that is in effect during the time that the payment has exceeded the transaction due date. Interest by range, which results in a single percentage or amount Interest rates can be based on three calculation types: Rates for interest payments − These represent a cost that is paid for interest on credit notes.īoth of these rate types can exist at the same time and in the same interest code.
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Rates for interest earnings − These represent revenue that is earned by charging interest on invoices or interest notes. For each interest code, you can set up two types of rates: When the interest code details are changed, all features that use the code will automatically implement the changes on new transactions.
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You can set up a single interest code and apply it to multiple customer posting profiles, billing codes, or to specific invoice lines. Interest codes contain settings that determine when interest is charged and how it is calculated on overdue accounts. Set up interest rates for an interest codeĪpplies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012