Maconomy Reference Guide

Change Interest Charge Selection Single Dialogs Workspace

Use this workspace to change existing interest charge selections.

Use the Interest Charge Selections workspace to create interest charge selections.

When you use the Approve Interest Selection action, Maconomy creates an interest charge notice journal that contains entries for the customer and G/L ledger, respectively. After you approve it, you cannot change the interest charge selection.

Maconomy calculates interest charges based on the interest charge/reminder principle that you specify in the Company Specific Payment Information workspace for each company-specific customer. You can also review that charge/reminder principle in this workspace, but you cannot change it here.

The workflow for creating interest charge notices is as follows:
  1. Create the interest charge selection.
  2. Check the interest charge selection and revise it if needed.
  3. Approve the interest charge selection.
  4. When you approve the interest charge, Maconomy automatically prints an interest charge notice.

You can approve the interest charge selection in this workspace or in the Approve Interest Selection workspace, where you can also reprint interest charge notices.

The Change Interest Charge Selection tab displays information about the company-specific customer and possible terms that you specified in the Company Specific Payment Information and Interest Charge/Reminder Principles workspaces. The Interest Charge/Reminder Principle island, which displays information about the selected interest charge/reminder principle, also shows the interest charge limit that, if exceeded, results in the creation of interest charge notices to the company-specific customer in question. If the customer's overdue payments are less than the specified amount, you cannot create an interest charge notice. The A/R Entries sub-tab displays information about the entries that are associated with each company-specific customer.

Maconomy can also create a batch of interest charge selections based on a range of customers. You do this in the Interest Charge Selection workspace.

You revise selections that Maconomy created automatically in this workspace. You approve a batch of interest charge selections in the Approve Interest Selection workspace.