I recently started learning about payment terms in Epicor. From what I’ve read, payment terms split the total amount across the number of months defined in the Terms Code module.
However, I couldn’t find any documentation on whether it’s possible to add a monthly interest percentage (for example, applying X% interest per month on outstanding balances).
If anyone has guidance or documentation related to this, I’d really appreciate it.
Thanks in advance!
The Terms code is generally for calculating due dates and also used to split the amount in multiple months. The only way to apply charges to overdue is through Finance/Late charge.
The Application User Guide is a good source of information on terms codes. Guessing from your profile that you are on 10.2.500, the user guide is located on Epicweb - here’s a direct link to the PDF doc: Sign In.