When running finance charges, can I put in 2.5? It will not let me enter in a decimal number while trying to run the finance charges.
-thatODguy
Finance Charges
-
jordansparks
- Site Admin
- Posts: 5776
- Joined: Sun Jun 17, 2007 3:59 pm
- Location: Salem, Oregon
- Contact:
Re: Finance Charges
I guess that would be a feature request.
Jordan Sparks, DMD
http://www.opendental.com
http://www.opendental.com
-
nathansparks
- Posts: 172
- Joined: Mon Aug 04, 2008 12:39 pm
Re: Finance Charges
Finance charges typically do not add much to an account balance. For instance, a 2.5% APR translates to roughly .2% monthly, so if Bob the BadPayer owes you $500, this woul be a finance charge of about $1. Soooo, the .5% changes the finance charge on a $500 debt by about 20 cents. ... your time is money, for 20 cents?
also, 2.5% is a bit LOW for an APR with inflation at 3.85% last year (although it has stalled a bit in 2009) I would not bother with charging 2.5%, my base would at least be the inflation rate (say 5%).
also, 2.5% is a bit LOW for an APR with inflation at 3.85% last year (although it has stalled a bit in 2009) I would not bother with charging 2.5%, my base would at least be the inflation rate (say 5%).