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Add/Modify Accrued Interest Percentage

  1. Go to Parameters > Set Parameters > Accounting > Interest Rate Values. 
  2. Right Click > Add > Interest Number: DEF > Description: Default Interest Rate > Interest Rate: (Desired Interest Rate) > Visible: Checked > OK. 
  3. Go to Interest Rate Types Parameter 
  4. Right Click > Add > Type: DEF > Description: Default Interest Rate > No. of Days 30 > Interest Flag: Checked > Visible: Checked > OK 
  5. Go to Matter and Client > Method of Payment Codes Parameter 
  6. Right Click > Add > Description: Default Payment > Repayment ind: D > Frequency: 0 > No. Payments: 7 > Days to pay: 7 > Interest: Checked > Interest Type DEF > Terms on Bill: 7 days of receipt of invoice > Visible: Checked > OK

Updated