Waive interest on customer transactions (form)
Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012
Click Accounts receivable > Common > Customers > All customers. Select a customer account. On the Action Pane, click the Collect tab, and then click Transaction interest > Waive.
You can waive, or forgive, interest transactions that are part of interest notes. You might waive interest if, for example, a customer disputes the charges and you want to maintain a good business relationship with the customer.
You can also waive complete interest notes or fees that are part of interest notes. For more information, see Waive interest notes (form) or Waive fees (form).
If necessary, you can reinstate waived interest later. For more information, see Reinstate waived interest on customer transactions (form).
Note
The total amount to be waived cannot exceed any limits that have been set for waiving customer interest and fees. For more information, see Manage customer waive limits (form).
When interest is waived, a credit note, or adjustment invoice, is created for the customer. This is used to automatically settle, or pay off, the amount that is due. The waived amount is the total for the interest, minus any previous payments by the customer, and minus any interest that was previously waived or written off. If the credit note amount exceeds what is owed by the customer, you can convert the balance that remains to a vendor payment, and give a refund to the customer. For more information, see Reimburse customers.
When you waive interest, a historical record is created that lists the user who entered the adjustment, the date and time of the adjustment, and other details. To view this record, click History on the Collect tab on the All customers list page. For more information, see Interest note adjustment history (form).
Tasks that use this form
Waive, reinstate, or reverse interest or fees
Navigating the form
The following tables provide descriptions for the controls in this form.
Buttons
Button |
Description |
|---|---|
View interest note |
View the details of the interest note that the selected transaction is a part of. |
Waive |
Waive the selected interest and close the form. |
Fields
Field |
Description |
|---|---|
Waive |
Select the check box for the transaction that you want to waive interest for. |
Transaction |
The identifier for the customer transaction. |
Date |
The date of the interest transaction. |
Type |
The type of customer transaction, such as a sales order, payment, invoice, or interest note. |
Start date |
The first date for interest charges on the interest note that this transaction is part of. |
End date |
The last date for interest charges on the interest note that this transaction is part of. |
Interest amount |
The amount of interest that is owed by the customer for this transaction. |
Interest note |
The identifier of the interest note that this transaction is part of. |
Write off |
The amount of any charges that were previously written off for the customer. Writing off is a separate process that is used for bad debts. This process marks all customer transactions for settlement instead of only making adjustments to interest notes. For more information, see Collections and credit in Accounts receivable and Key tasks: Collections. |
Notes |
Optional: Enter notes about the action. |
See also
Interest note adjustment history (form)
Manage customer waive limits (form)
Reinstate waived interest on customer transactions (form)
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