COMPUTE FINANCE CHARGES

Use this screen to calculate interest charges on your outstanding invoices by either customer account or by invoice number. You can also print a report that displays all of the finance charges that you have assessed.

Running this process will not post any amounts nor will it affect the General Ledger. Posting only occurs when you receive the funds for the finance charges

You should select the Apply Finance Charges check box in the Credit Info subtask of the Maintain Customer screen before accessing this screen.

Grouping

Select By

Use the drop-down list to compute the finance charges by either customer account or by invoice number. Computing finance charges by Customer Account is the default selection.

Range Option

Enter, or use the drop-down list to select, the range of customer accounts or invoice numbers for which you want to calculate finance charges. Options are All, One, Range, Beginning From, and To End. The default for this field is All.

From

Enter, or use to select, the starting customer account or invoice number for the range you want to include. This field will be unavailable if you select All or From Beginning in the Range Option field.

To

Enter, or use to select, the ending customer account or invoice number for the range you want to include. If you select All, One, or To End in the Range Option field, this field will be unavailable.

Purge Computed Finance Charges

Select this check box to delete all computed finance charges from the accounts receivable finance charges table. This process will not delete any information from the Accounts Receivable History table, so your customers' accounts receivable records will still be accessible. Purging computed finance charges will make more space available in your database.

Print Finance Charges Report

Select this check box to print the Finance Charges Report. This checkbox is selected by default.

Include invoices with no current period charges

Select this check box to include those invoices that have no current period charges.

Ending Period

Fiscal Year

Enter, or use the drop-down list to select, the fiscal year of the finance charges that you want included in the computation.

Period

Enter, or use the drop-down list to select, the period of the finance charges that you want included in the computation.

Subperiod

Enter, or use the drop-down list to select, the subperiod of the finance charges that you want included in the computation.

Ending Date

This field displays the ending date for the fiscal year, period, and subperiod selected.

Each invoice will have its corresponding finance charge amount.

Compute Finance Charges

Click this button on the toolbar to compute the finance charges. A list of finance charges will be printed the computation.

Print/Compute Finance Charges

Click this button on the toolbar to compute the finance charges and then print a list of the charges.