AppliesToDirection | Applies To Direction | PickList | | Receivable (customers who pay you late) or Payable (suppliers you pay late). Blank means both directions. A run considers only policies that match its own direction or are blank. Direction does not count towards specificity, so a blank-direction policy for a party still beats a company-wide Receivable policy. Values: Receivable, Payable. |
Basis | Basis | PickList | | The principal the rate is applied to. Outstanding Balance (the default when blank) replays each payment, so part-payments stop earning interest on the day they are allocated. Original Amount uses the document's full amount. Current Open Amount uses the item's open amount at the time of the run for every overdue day, so after a part-payment the next run can charge nothing. Interest always stops on the day the item is fully paid. Values: Outstanding Balance, Original Amount, Current Open Amount. |
ChargeOnSettledItems | Charge On Settled Items | Boolean | | When on (the default, and when blank), an item that has since been paid still owes interest for the days it was late, up to the day before it was cleared. Switch it off to skip fully settled items altogether. |
CompoundingFrequency | Compounding Frequency | PickList | | Monthly, Quarterly, Half Yearly or Yearly. Used only when Method is Compound. Blank is read as Monthly. Values: Monthly, Quarterly, Half Yearly, Yearly. |
CreatedById | Created By | Lookup → UserAccount | Yes | |
CreatedDateTime | Created Date | DateAndTime | Yes | |
DayCount | Day Count | PickList | | Days-in-year convention: Actual/365 (the default when blank), Actual/360, Actual/366, Actual/Actual (365 or 366 for each calendar year) or 30E/360 (every month counts as 30 days and the year as 360). Values: Actual/365, Actual/360, Actual/366, Actual/Actual, 30E/360. |
Description | Description | LongMultiLineText | | Free text for the contract clause or the reason for the terms. Not read by the calculation. |
EffectiveFrom | Effective From | Date | | First date the policy can apply. Compared with the run's As Of Date only: the policy in force on that date prices the item's whole overdue history, not just the new days. Blank means no start limit. |
EffectiveTo | Effective To | Date | | Last date the policy can apply, compared with the run's As Of Date. Blank means open-ended. Cannot be earlier than Effective From. |
GraceDays | Grace Days | Number | | Days after the due date before interest starts. The first chargeable day is the due date plus grace plus one, and grace days are never charged. Cannot be negative. |
GstRatePercent | GST Rate % | Percent | | Must be greater than zero when GST Applicable is on, or the policy cannot be saved. The calculation does not use it: the GST on interest always follows the original invoice's own rates. |
Id | Id | Guid, hidden | Yes | |
InterestGLAccountId | Interest GL Account | Lookup → GLAccount | | Account for the interest: income for a receivable policy, expense for a payable one. Used as chosen when set. When blank, posting looks for an account of the charge's company marked with the interest-income (or interest-expense) control type, then for an account of type Other Income (or General and Administrative Expense). Read when the run posts, so changing it affects draft charges too. |
IsActive | Is Active | Boolean | | Only active policies are considered. A policy whose switch is off or blank is ignored by every run. Switch it off rather than deleting a policy that charges have used. |
IsGstApplicable | GST Applicable | Boolean | | Charge GST on the interest. The tax rates and HSN/SAC come from the tax recorded on the original invoice, never from this policy. Items with no recorded invoice tax, which includes supplier bills and debit notes raised by hand, are skipped as GST cannot be determined. |
Label | Label | Text | | Optional descriptive title shown in the policy list. |
MaximumChargePercentOfPrincipal | Maximum Charge % of Principal | Percent | | Ceiling on the total interest one item can ever bear, as a percentage of the item's original amount. Blank means no cap; zero or less is refused. When the cap cuts a charge, the charge records the uncapped figure in Capped Amount, and once the cap is reached later runs charge nothing more. |
Method | Method | PickList | | Simple or Compound. Compound adds the interest to the principal at each Compounding Frequency rest, counted from the item's first chargeable day, so how often runs happen does not change the result. Blank is read as Simple. Values: Simple, Compound. |
MinimumChargeAmount | Minimum Charge Amount | Currency | | Floor for one charge, before tax. When the interest for a window is below it, no charge is raised and the days are not used up, so the amount keeps building and a later run charges it. Cannot be negative. |
MinimumDaysOverdue | Minimum Days Overdue | Number | | Extra tolerance counted after grace: nothing is charged until the item is more than grace plus this many days past due. Once crossed, interest is charged back to the first day after grace. Cannot be negative. |
ModifiedById | Modified By | Lookup → UserAccount | Yes | |
Name | Name | Text | Yes | Your name for the policy. Required. It is also the last tie-breaker when two policies have the same scope, priority and start date. |
OwnerId | Owner | Lookup → UserAccount | Yes | |
PartnerAccountId | Company | Lookup → Account | | Your own company (legal entity) the terms belong to, not the customer. Only company accounts can be picked. Blank means every company. A run scoped to one company considers only that company's policies and the everyone policies. |
PartyAccountId | Party | Lookup → Account | | The one customer or supplier these terms were negotiated for. Blank means every party. A party policy beats any company-wide or everyone policy for that party's items. It cannot be the same account as the Company. |
Priority | Priority | Number | | Tie-breaker between policies with the same scope (party and company, party, company or everyone). The higher number wins; blank counts as 0. It never lets a wider policy beat a narrower one. |
RatePercent | Rate % | Percent | | The rate as the contract quotes it, as a whole-number percentage for the Rate Period: 2 with Per Month is 2% a month, 18 with Per Annum is 18% a year. Must be greater than zero, and a monthly rate above 100 is refused as a likely typing error. |
RatePeriod | Rate Period | PickList | | Per Annum, Per Month or Per Day: the period the Rate % is quoted for. Every rate is converted to a yearly rate before the calculation, so 2% Per Month and 24% Per Annum charge the same. Blank is read as Per Annum. Values: Per Annum, Per Month, Per Day. |
RecordTypeId | Record Type | Guid, hidden | | |
SubscriptionKey | Subscription Key | Guid, hidden | Yes | |
TaxGLAccountId | Tax GL Account | Lookup → GLAccount | | Account for the GST on interest. Used as chosen when set. When blank, posting looks for a company account marked tax payable (or tax credit for payable), then one of type Other Current Liability (or Tax Credit). Only read when a charge carries tax. |
UpdatedDateTime | Modified Date | DateAndTime | Yes | |
