Open Item Daily Interest Maintenance

Use Open Item Daily Interest Maintenance to maintain the interest percentages, grace days and effective dates for the interest rates for each rate class within each service. You can have different rates for different time periods if needed.

Directions:

To open:

1. Click Daily Work from the menu.

2. Click File Maintenance.

3. Click Code Maintenance.

4. Click Open Item Daily Interest Maintenance

Open Item Daily Interest Maintenance

Open Item Daily Interest Maintenance Prompts
Service Rate Class	Enter a service code and enter a rate class for the service code, then press [Enter] or click Retrieve . To look for a daily interest table, click Search . From the Search list you can select the record to change or delete. Keyboard shortcut: [ALT + r] Tip: If you are building a new daily interest table, New displays near the Service code. Default entries display and the first field is highlighted to let you know you can begin entering information.
Title	Enter an abbreviated title for the daily interest criteria for the rate class and service.
Description	Enter a description for the daily interest criteria for the rate class and service.
Interest %	Enter annual percentage rate to charge for interest. This will be divided to arrive at a daily interest rate.
Grace Days	Enter the number of days for the grace period. A grace period is typically the number of days between the end of the billing cycle and the date the payment is due.
Effective From Date	Enter the date to start using the interest % and grace days.
Effective Through Date	Enter the ending date for using the interest % and grace days.
Add/Update	To add a line or update a line that is edited, click Add/Update.
	To update the new or changed information, click Save or press [ENTER]. Keyboard shortcut: [ALT + s]
	CAUTION To avoid losing data, you must save new or changed records.
New	To add another rate for a rate class/service that already has rates, click New . Then enter the Interest % through the Effective Through Date information following the steps here.
Editing an Interest Rate	To change a line: 1. Click the line to change. The information displays in the Interest % through Effective Through Date fields. 2. Make the changes. 3. Click Add / Update to complete your change. 4. When finished with all work, click Save to complete your entries.
Removing an Interest Rate line	To remove an interest line: 1. Click the line to remove. The information displays in the Interest % through Effective Through Date fields. 2. Click Delete to delete the line. 4. When finished with all work, click Save to complete your entries.