--- title: How to Set Interest Rates description: This article details how to set Interest Rates for Customers with Full Accounting Setups --- [Skip to content](https://knowledge.brightorder.com/how-to-set-interest-rates#main-content) English Show submenu for translations [More support](https://knowledge.brightorder.com/kb-tickets/new?hsLang=en) [Customer portal](https://help.brightorder.com/tickets?hsLang=en) [![BO Logo](https://knowledge.brightorder.com/hs-fs/hubfs/BO%20Logo.png?width=384&height=89&name=BO%20Logo.png)](https://knowledge.brightorder.com?hsLang=en) Open main navigation Close main navigation - English Show submenu for translations - [More support](https://knowledge.brightorder.com/kb-tickets/new) - [Customer portal](https://help.brightorder.com/tickets) - Go to www.brightorder.com Go to www.brightorder.com How can we help you? - There are no suggestions because the search field is empty. 1. [BrightOrder Knowledge Base](https://knowledge.brightorder.com/?hsLang=en) 2. 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[Getting Started](https://knowledge.brightorder.com/emdecs?hsLang=en#getting-started) # How to Set Interest Rates ## This article details how to set Interest Rates for Customers with Full Accounting Setups   Some customers may choose to set interest rates to deter their customers from                        making late payments on services.   ### Video Walkthrough         ### Setting Parameters   To find where to set this, go to **Admin -\> Standard Codes -\> Customer -\>Interest charge** ![](https://help.fleetsquared.com/galleryDocuments/edbsnc50708e829a7f1dee07f967d0e74a0c9a28c4a777c15ba0510cf0174ad7aa65457c500d300e5d1f9f89910b78d4bf73b?inline=true)   -Click **+Add New**, It will open a pop up to set the charge ![](https://help.fleetsquared.com/galleryDocuments/edbsn46eeca16c315c7031e2e702fadbf43f40cdf25c70ab8289b6ba79fea0025e8db8a18dfe22928c9d7579c0fc76fbd19cc?inline=true)   -After you have created this, assign it to your customer.   **Administration -\> Customer-\> Select Customer-\> Details tab** ![](https://help.fleetsquared.com/galleryDocuments/edbsn46eeca16c315c7031e2e702fadbf43f4713923d2e1d140ede90f375f8fc5721186e1d8d58a71705555d9957622e16f63?inline=true)     ### Applying the Charge   To apply the charge to an invoice **Financials -\> Month End -\> Things to Do -\> Calculate Service Charge** ![](https://help.fleetsquared.com/galleryDocuments/edbsn823c4af15c4a2ad424715212b4466b78a1d35576d759d767a2a6390ba0df4a19039842dfaed5237c5985288c8e0279cd?inline=true)   -Set the **Parameters** -\> Every field is required! ![](https://help.fleetsquared.com/galleryDocuments/edbsn8d4c857ef37d1c38277ddf730d1a7c8e796ddb22254b0635fa4d5961e9c354a5fc7711bfac820a1b9146cb050d4ce3a9?inline=true)   -Once you have selected **Calculate,** a pop-up will appear with any invoices associated with a customer with an interest rate who has an invoice for that date.  ![](https://help.fleetsquared.com/galleryDocuments/edbsne337348b6a913c374f25237749c67b64000caf6e501bf82cb30da330eefa9e62b45f86d774933190008140d9170ea8ae?inline=true)     ### Finalizing the Charge   Go to **Financials -\> AR Manager** -Set the calendar **From** date to include the invoices you are missing. Click **Refresh** ![](https://help.fleetsquared.com/galleryDocuments/edbsn450a9b012d629d8d2f6c6a3d0839b56e18e76925fb9623217a6c3ef57cb66be784d1057eacdb54dbded9136a1479d421?inline=true)   -Select the *left arrow* under **invoice date** to sort the column and bring the charge you applied to the top of the list. ![](https://help.fleetsquared.com/galleryDocuments/edbsne337348b6a913c374f25237749c67b64c2048317132484e6fae65a2071e30ec8e2ab2246dc11145cd2935d09f58a58fd?inline=true)   **^** This image highlights both interest charges that were created    -Select one of the invoices. Once it is highlighted and the information appears on the right-hand side, select **Receive Payment**. ![](https://help.fleetsquared.com/galleryDocuments/edbsn24d2dc7292712de7c49f397bb48fa986da4e65a03538ce6969a34ec828a69cab16ba16301e1fdc7eef449bfee5636145?inline=true)   If no default receipt account is tied to the customer, you will receive a pop-up. Set                   the account and click **ok**   ![](https://help.fleetsquared.com/galleryDocuments/edbsne337348b6a913c374f25237749c67b64887081878cf78e55bdae0db32902a9c4226909c575e5fb226802f133dd05f123?inline=true)   -A  pop-up will open. Select **Add Outstanding Invoices** ![](https://help.fleetsquared.com/galleryDocuments/edbsn46eeca16c315c7031e2e702fadbf43f4520b8c5ef1ace3da3e99278e0a69d72a62a808ea24e03b255bc075fcfe9b0369?inline=true)    -Choose the invoices you want to be attached to the invoice and select **"Add Selected"**. ![](https://help.fleetsquared.com/galleryDocuments/edbsn8d4c857ef37d1c38277ddf730d1a7c8ede24f3a7f9bd2e728a3d8222ac3c462cbd873fc91bb09c932fde7ef5595e0be2?inline=true)    -Verify the amounts being paid before finalizing the payment. If any invoices have been added, the **Amount** will have to be adjusted. You can find the new amount at the bottom of the **Invoice Panel**. ![](https://help.fleetsquared.com/galleryDocuments/edbsncd24bba9a1a363f417d70d4673a91ddead7ed7ee2b8f845b43a550bdf797739feaf11ead4e01bbce6b2dbc7fc5f2dff2?inline=true)    -Once you have ensured the Amount field matches the amount at the bottom of the screen, the **Remaining field** should show a balance of 0.00. Select **Finalize**. ![](https://help.fleetsquared.com/galleryDocuments/edbsnc3db0fd6359478eeba0aea86e4a8bc5c8f0b19da1df7ab994a5bfa015814bacd81f18eca33fd0cba4a12c1e7260b585b?inline=true)        To Verify that it was Processed    **Financials-\> AR Manager-\> AR History**    Ensure that *the date* will include the invoices you processed, and narrow down by customer. Select **Refresh**. Selecting the *left arrow under the Invoice Date column* will sort them into ascending order. As the Interest Charge shows the same date as the initial invoice, they will appear next to each other in the list.  ![](https://help.fleetsquared.com/galleryDocuments/edbsncd24bba9a1a363f417d70d4673a91dde3bfaca972e4baf661e2a72f8cd36f06c94140c45cb538b1eba43ccfc43bb2988?inline=true)   ### Things to be Cautious Of       **Once an interest rate has been calculated for a specific date, it can not be done on that day again.**   ![](https://knowledge.brightorder.com/hs-fs/hubfs/image-png-Aug-20-2024-03-49-21-1648-PM.png?width=688&height=370&name=image-png-Aug-20-2024-03-49-21-1648-PM.png)     An Invoice can have the interest on it calculated multiple times   -This RO is dated for August 23rd ![](https://help.fleetsquared.com/galleryDocuments/edbsn6db85d0c3603e9fcf5f9bd735881114c6082ff8ea66e2a65898027957249e6b88e30241514c6d057b364a58812a0f24c?inline=true)         -Interest Charged on the **25th** ![](https://knowledge.brightorder.com/hs-fs/hubfs/image-png-Aug-20-2024-03-50-29-9513-PM.png?width=584&height=553&name=image-png-Aug-20-2024-03-50-29-9513-PM.png)    -Interest Charged on the **24th**  ![](https://help.fleetsquared.com/galleryDocuments/edbsn17ee0d65f4f502b3103f03c3344e951ac7a36e8aa6ec0b0ae909f6c840c6cc0c949140ea4f8d43601a8fa2044203fbbc?inline=true)    -Both now appear when going to **AR Manager** ![](https://help.fleetsquared.com/galleryDocuments/edbsnc1ee71a5e05f405e342c3e213fada6733fbb89691199825828cdfea2de890282b4de844dc100d89240bdba4539e4304a?inline=true)     - [EMDECS](https://knowledge.brightorder.com/emdecs?hsLang=en#main-content) - [Getting Started](https://knowledge.brightorder.com/emdecs?hsLang=en#getting-started) - [How-To Guides](https://knowledge.brightorder.com/emdecs?hsLang=en#how-to-guides) - [Troubleshooting](https://knowledge.brightorder.com/emdecs?hsLang=en#troubleshooting) - [Account & User Management](https://knowledge.brightorder.com/emdecs?hsLang=en#account-user-management) - [Integrations](https://knowledge.brightorder.com/emdecs?hsLang=en#integrations) - [Release Notes](https://knowledge.brightorder.com/emdecs?hsLang=en#release-notes) - [emdecs one](https://knowledge.brightorder.com/emdecs-one?hsLang=en#main-content) - [Maintenance](https://knowledge.brightorder.com/emdecs-one?hsLang=en#maintenance) - [emdecs one ELD](https://knowledge.brightorder.com/emdecs-one-eld?hsLang=en#main-content) - [Troubleshooting](https://knowledge.brightorder.com/emdecs-one-eld?hsLang=en#troubleshooting) - [How-To Guides](https://knowledge.brightorder.com/emdecs-one-eld?hsLang=en#how-to-guides) - [Getting Started](https://knowledge.brightorder.com/emdecs-one-eld?hsLang=en#getting-started) - [Account & User Management](https://knowledge.brightorder.com/emdecs-one-eld?hsLang=en#account-user-management) - [Tracking](https://knowledge.brightorder.com/tracking?hsLang=en#main-content) - [Getting Started](https://knowledge.brightorder.com/tracking?hsLang=en#getting-started) - [Troubleshooting](https://knowledge.brightorder.com/tracking?hsLang=en#troubleshooting) - [How-To Guides](https://knowledge.brightorder.com/tracking?hsLang=en#how-to-guides) - [Account & User Management](https://knowledge.brightorder.com/tracking?hsLang=en#account-user-management) - [Integrations](https://knowledge.brightorder.com/tracking?hsLang=en#integrations) - [ELD](https://knowledge.brightorder.com/eld?hsLang=en#main-content) - [Release Notes](https://knowledge.brightorder.com/eld?hsLang=en#release-notes) - [Legacy Device Troubleshooting](https://knowledge.brightorder.com/eld?hsLang=en#legacy-device-troubleshooting) - [How-To Guides (Legacy Devices)](https://knowledge.brightorder.com/eld?hsLang=en#how-to-guides-legacy-devices) - [Dashcam](https://knowledge.brightorder.com/dashcam?hsLang=en#main-content) - [How-To Guides](https://knowledge.brightorder.com/dashcam?hsLang=en#how-to-guides) - [General](https://knowledge.brightorder.com/general?hsLang=en#main-content) - [Contact Us](https://knowledge.brightorder.com/general?hsLang=en#contact-us) - [Getting started](https://knowledge.brightorder.com/getting-started?hsLang=en) [![No Margin White BO Logo](https://knowledge.brightorder.com/hs-fs/hubfs/No%20Margin%20White%20BO%20Logo.png?width=384&height=112&name=No%20Margin%20White%20BO%20Logo.png "No Margin White BO Logo")](https://knowledge.brightorder.com/?hsLang=en) www.brightorder.com   Help Center [mailto:email@email.com](mailto:email@email.com) Copyright © 2026, BrightOrder Inc.