AR Contact Type – The Contact Type set here is used for Accounts Receivable Reports, the Customer Mail Merge, and for display in the Contact section when opening a customer from the Accounts Receivable module.
Monthly Interest Rate – Interest rate to charge when using the Apply Finance Charges process in the Accounts Receivable module.
Aging Periods – Select the number of days for each of the 4 aging periods to group outstanding invoices and other transactions by transaction date. Amount totals summarized by aging period for each customer, and may be displayed on the Accounts Receivable module grid and printed on selected reports.