Your rates

How a rate is worked out

Rate = full months × the monthly rate (25% by default) + the rate for the days left over from your table (1 day 1.43%, 7 days 10%, 15 days 15%, and so on up to 30 days = 25%).

• 1 month is 25%, whether the month has 28, 30 or 31 days.
• 1 month 15 days = 25% + 15% = 40%.
• Due dates count calendar months: 31 January + 1 month = 28 February.

Your own table

Each company has its own copy. Open Settings → Rates to see it with a live example. A loan always keeps the rate it was given: changing the table later only affects new loans.

A friendly rate for one customer

On New loan, press Change rate and say why. The discount is remembered and shown in the reports.