Assess Finance Charges to a Single Customer

You can calculate and assess finance charges to a select customer.

Finance charges apply only to posted values. Amounts or records in any open invoice, payment, retainage, or finance charge batches are ignored.
Take these steps in the AR Finance Charge form to calculate and assess finance charges to a single customer.
  1. Enter enter New, N, or + in the Seq # field to start a new sequence.
  2. Enter the customer number in the Customer field. Press F4 to select from a list of valid customers.
    The header field values populate automatically.
  3. Click the chevron button to save the record and proceed to the detail section of the form. If you are entering line detail for an invoice with a Receivable finance charge type or you want to have the system calculate the finance charge automatically for the line, use the following sub-steps:
    1. (Optional) Enter dates in the DueDateCutoff and PaidDateCutOff fields. The difference between the due date cutoff and the paid date cutoff represents a grace period for customer to pay any overdue balance. For more information, refer to the F1 help.
    2. Click Create FC Detail. The system generates a new line and defaults the finance charge in the Amount field automatically.
    3. Click the chevron button to save the line detail record. At this point you are complete and do not need to follow the remaining steps.
  4. In the AR Line field, enter New, N, or +.
    The Description and GL FC Acct field values populate automatically.
  5. (Optional) Click Calculate FC Charges to see how the system would calculate the finance charge.
  6. In the Amount field, enter the finance charge amount. Use the system’s calculation or your own.
  7. Click the chevron button to save the line detail record. Invoices with an "Account" finance charge type can only have one line item.