Generating and Posting Finance Charges

To calculate finance charges for customers who have a past-due balance and for whom the Finance Charge check box on the Customers form is selected, use the A/R Finance Charge Generation utility.

To post the finance charges, use the Finance Charge Posting form.

On the A/R Finance Charge Generation form, enter information in these fields:
- Site Group: Enter the multi-site group ID for which you want to generate finance charges.
- Start and End Customer: Enter the range of customers you want to generate finance charges for.
- Statement Cycle: Select from the drop-down list the statement cycles you want to generate finance charges.
- Cutoff Date: Enter the cutoff date of the transactions you want to include in the calculation.
- Include Fully Paid Invoices: If you want to include invoices that are fully paid, but which are late, select this check box.
- Delete All Records First: If you want to delete all finance charge records before generating the new amounts, select this check box.
- Increment Date: If you want the system to automatically increment date ranges and re-run reports and utilities, select this check box.
To generate finance charges for the selected customers, click Process.

After you generate the finance charges and review them for accuracy, you must post the charges. To post the charges, use the Finance Charge Posting form and:

Select the range of customers whose finance charges you want to post, or, to post finance charges for all customers, leave these fields blank.
To print the Finance Charge Transaction Report and verify that the finance charges are correct, click Process.
Note: You must print this report before you can post the charges. The Commit option is inactive until you perform this step.
After verifying the report, to post the finance charges, select Commit and then click Process.

After the finance charges are posted, they display on the A/R Posted Transactions Detail form with Finance Charge as the type and -1 as the invoice number. The posted finance charges display as Finance Charge on this form.

The system does not post transactions that contain incorrect information. In this case, the system displays an error message stating that the posting process is partially complete. You must correct the errors, and then post the finance charges again.