This scenario illustrates the manual creation of an interest fee assessed on a receivable by the end user (instead of automated by the finance charge chain).
In order to modify a RE transaction that is considered "late” (i.e. past due), the Receivable transaction must be in a final status without any outstanding draft or pending version.
Once the Receivable transaction has been located and opened, perform the Edit action to create a draft modification version.
Navigate to the Accounting Line tab to add new lines.
You can either create a new line (blank line) or to
copy from an existing line. Suppose an existing is copied. You can
then make changes to the copied line in order to create lines for
different purposes.
In the example, let's add an interest line for $6.75.
Line Type: Selects a value of ”B” (Interest) by using the pick list.
Line Description: Changes the description to signify that this is an interest charge. The Line Description appears on Invoices and statements.
Line Amount: Changes the amount to 6.75.
Reason: Selects the reason of finance charge from the pick list.
Revenue: Enter the revenue source code that will be booked with the interest charge.