Debtors - Charging interest on overdue accounts

To charge interest on overdue accounts

Path:  Debtors > Batch Billing View >

Create a new batch

1. [Desc] give the batch a description
2. Select [New Item]
3. Type in Description
4. Select [#3 Acct. Fee]
5. [Select active invoices to: ] Select the date you wish to charge interest from
6. [Cost Centre to charge] select the cost centre you wish to record this amount against
7. [Debtors or Sundry] – select which one to charge too.
8. Select a % to charge e.g.  10%/365*(no. of days to charge e.g. 30 days in April that this was overdue) = .82
9. Select if GST is include or not
10. [Begin Charging]

You can then edit the Transaction Detail screen and delete any charges e.g. people on payment plans etc