Finance Charges are not assessed on unpaid Invoices during the Grace Period (applies only to Sales Transactions with credit-type Sales Payment Types).
The Customer's Grace period setting is used unless it is set to zero (0).
- If the Customer's Grace period is zero, the default Grace Period defined in Accounts Receivable is used.
- If the Customer's Grace Period is a positive number, Finance Charges are calculated from the end of the Grace Period.
- If the Customer's Grace Period is negative one (-1), Finance Charges are calculated from the Billing Period's Open Date.
- If the Customer's Grace Period is a negative number other than -1, Finance Charges are calculated from the Invoice Date.
See:
Customer Database - Main Screen Fields