Receivables Customer Profile Classes:
Setting up a customer profile class enables to default information into new customer records and enhances ability to quickly setup and define new customers.
Use Customer Profiles to group customer accounts with similar creditworthiness, business volume, payment cycles, and late charge policies.
Responsibility: Receivables Manager
Navigation: Customers > Profile Classes
setup information impacting Late Charges:
Information in the Profile Class Amounts tab allows you to set default values for various Currency/Amount related fields. The details you provide in the Currency Rates and Limits section help you define thresholds for how much business you can conduct with a customer in this profile class and receipt and statement amounts. In the Tolerance section you define data that is used for Late Charge calculation.