(POL) Set up interest codes
Important
This content is archived and is not being updated. For the latest documentation, see Microsoft Dynamics 365 product documentation. For the latest release plans, see Dynamics 365 and Microsoft Power Platform release plans.
Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2
Use this procedure to set up and maintain interest codes. Interest codes contain settings that determine when interest is charged and how it is calculated on overdue accounts.
Note
This topic has not been fully updated for Microsoft Dynamics AX 2012 R2.
Click Accounts receivable > Setup > Collections > Interest.
In the Interest code field, enter a unique code to use to calculate interest.
In the Description field, enter a description of the interest code.
On the Earnings tab, in the Ledger posting debit field, select the ledger account number for interest earnings.
On the Payments tab, in the Ledger posting credit field, select the ledger account number for interest payments.
In the Grace period field, enter the number of days after which interest is calculated.
Note
The interest is calculated from the payment date.
On the Earnings tab and on the Payments tab, in the **Monthly interest %**field, enter the tax interest rates.
Note
For more information, see Interest (form).
Press CTRL+S or close the form.
See also
(POL) Set up the accounts receivable parameters to calculate interest
(POL) Set up a number sequence code for the interest note and voucher
(POL) Set up customer posting profiles
(POL) Calculate tax interest and free-hand interest