The Calculate function is used to calculate Finance Charges for individual Customers.
- Select Parameters from the Finance menu.
- Review the Finance Charge Settings, and make any necessary changes.
- Select Ok to exit and save the changes.
- Select Billing Period from the Finance menu.
- Enter a Billing Period if the current one is not appropriate. (Usually 1 month).
- Select Ok and press [Enter] to accept the Billing Period.
- The Calculate Finance Charge for All Customers screen is displayed.
- Select [No] to skip the calculation.
- Select Calculate from the Finance menu.
- Select the Customer from the Customer Lookup List.
- Press [Enter].
- Finance Charges for that Customer are calculated and the Customer Lookup List is displayed again.
- Select another Customer or press [Esc] to exit without selecting a Customer.
WARNING: Finance Charges for a Billing Period do not ordinarily need to be calculated again. Do not use a Start Date (the Open Date in the Billing Period) that is earlier than the Customer's previous Finance Charge date. Doing so resets the Previous Finance Charges to 0 and then re-calculate the current charges, which may result in total Finance Charges lower than desired. The Previous Finance Charge date is the PRV FN CHG in the Open Invoices List.
Accounts Receivable Contents