Calculate Finance Charges
Use the AR Calculate Finance Charges form to specify a transaction dates for all system-generated finance charge invoices and enter criteria to determine how this form pulls invoices for finance charge assessment.
- (Optional) Select the Set for Due Date… check box to have the due date for all finance charge transactions equal the transaction date.
- Enter a transaction date in the Transaction Date field.
- (Optional) Enter a date in
the Due Date Cutoff and Paid Date Cutoff fields.Note: The difference between the due date cutoff and the paid date cutoff represents a grace period for customer to pay any overdue balance.
- Select a recalculate option from the Recalculate Each Customer section.
- (Optional) To restrict by customer, enter the customer number in the Customer field.
- (Optional) To restrict by
receivable type, enter the type in the RecType field.Note: This option only applies to customers with a finance charge type of R-RecType or I-Invoice.
- Click OK. A dialog box displays.
- Click Close. The AR
Calculate Finance Charge form closes and transaction information displays in AR
Finance Charge, including the calculated finance charge(s). Edit transactions as
necessary.Note: Although you can assess and pay finance charges on contract invoices, the system does not update the finance charge portion of the invoice to JC; only the invoice amount updates to JC.