Enter the Grace Period in days in this field.  The customer will not be charged a finance charge on payments made before the end of the grace period.

This differs from the Terms set up in the Instore Charge Maintenance form. The grace period is an additional period of time allowed the customer before the finance charges are added.

For example: A customer is set up in Instore Charge Maintenance attributes as having terms of 30 days. The customer charges items on 2/5/2020, making the payment due on 3/4/2020. The user calculates a finance charge on 3/31/2020, and enters a grace period of 10 days. 10 days are added to the due date, so that the finance charge would then be calculated from 3/14/2020 on that particular customer’s account.