Finance Charge Entry - Field Descriptions

Use this table for reference when completing the fields on this screen.

Field

Description

Customer

Enter the customer code for whom finance charges will be assessed. If the customer’s status is set to Not used, no entry is allowed. The Customer name will display when a valid customer code is selected.

Cost center

Enter a cost center code. This field associates the finance charge with a particular cost center.

When adding a new finance charge, Spectrum compares the customer’s list of shared cost centers with cost centers in the operator’s assigned scheme; if there are no common cost centers, then that customer is not allowed. The entry must be a valid cost center both for the customer and for the operator adding the charge. When editing a finance charge, Spectrum will verify that the operator has authorization both for the customer and the assigned cost center before proceeding.

Code

Enter the transaction code for the specific type of finance charge being entered. Up to 10 characters are permitted.

Overdue balance

The software calculated past-due balance displays. Press Enter, or enter the dollar amount past due for this customer (this is the amount upon which the finance charge calculation was based). Entry into this field now will have no affect on the finance charge shown on the screen.

Percent

The finance charge percent will display from the Customers screen. Press Enter, or enter the percent finance charge for this specific charge. For example, if the percentage is 2½%, enter 2.5.

Finance chg

Enter the desired finance charge amount for this customer. The amount displayed will equal the default "overdue amount" multiplied by the default "finance charge" percent.

Date

Enter the transaction date for this finance charge adjustment.

Transaction description

The transaction code description will display in this field.

Total charges

Total transaction charges will be displayed above the list box. As items are added on this screen, this total will be updated automatically.