Set up interest and fines on customer payments (Brazil)

Note

We will not be accepting edits to this topic, because it is generated from a business process in Lifecycle Services.

Use this procedure to set up interest and fines on customer payments. This task uses the BRMF demo company.

  1. Go to Accounts receivable > Setup > Customer posting profiles.
  2. Click to follow the link in the Posting profile field.
  3. Click Edit.
  4. In the Financial interest field, specify the desired values.
  5. In the Fine field, specify the desired values.
  6. Click Save.
  7. Close the page.
  8. Close the page.
  9. Go to Accounts receivable > Payments setup > Payment calendar.
  10. Use the Quick Filter to find records. For example, filter on the Payment calendar field with a value of 'Brazil'.
  11. Click State/province holidays.
  12. Use the Quick Filter to find records. For example, filter on the State/province field with a value of 'SP'.
  13. Click New.
  14. In the Date field, enter a date.
  15. In the Description field, type a value.
  16. Click Save.
  17. Click City holidays.
  18. Use the Quick Filter to find records. For example, filter on the City field with a value of 'São Paulo'.
  19. Click Add.
  20. In the Date field, enter a date.
  21. In the Description field, type a value.
  22. Click Save.
  23. Close the page.
  24. Close the page.
  25. Close the page.
  26. Go to Accounts receivable > Payments setup > Fine codes.
  27. Click New.
  28. In the Fine code field, type a value.
  29. In the Description field, type a value.
  30. In the Fine % field, enter a number.
  31. Click Save.
  32. Close the page.
  33. Go to Accounts receivable > Payments setup > Interest codes.
  34. Click New.
  35. In the Interest code field, type a value.
  36. In the Description field, type a value.
  37. In the Interest % field, enter a number.
  38. In the Interest calculation per field, enter a number.
  39. Click Save.
  40. Close the page.
  41. Go to Accounts receivable > Customers > All customers.
  42. In the list, click the link in the selected row.
  43. Expand the Payment defaults section.
  44. Click Edit.
  45. In the Fine code field, enter or select a value.
  46. In the Interest code field, enter or select a value.
  47. Click Save.
  48. Close the page.
  49. Close the page.