Creating company customer processing options

You must set up customer default code for your processing, statement, and finance charge options.
  1. Select Financials > Receivables > Manage Customers > Company Customers.
  2. Click Create.
  3. On the Processing Rules tab, specify this information:
    Search Name
    Specify the search name for the customer to search for customers online and sort customers on reports. If this field is blank, then the search name that is assigned for the customer in Customers is used.
    Dispute Finance Charge
    Select this check box to assess finance charges on disputed invoice amounts. If this field is blank, then the Dispute Finance Charge field in Default Codes is used.
    Automatic dunning
    Select this check box if Dunning Letter Select is automatically created past due notices for the customer. If this field is blank, then the Automatic Dunning field in Default Codes is used.
    Age Disputes
    Select if disputes are aged using the default aging method defined for the company. If this field is blank, the Age Disputes field in Default Codes is used.
    Dunning Cycle
    Specify the dunning cycle if past due notices are automatically created for the customer. If this field is blank, then the auto dunning option that is assigned to the customer is used.
    Credit Review Percent
    Specify the percent of a customer's credit limit requiring a review. If this field is blank, then the credit percent review value that is defined in Default Codes is used.
    BOE Processing Type
    If you select the Bills of Exchange field in Customer Group, then specify a bill of exchange option. If this field is blank, then the bills of exchange option that is defined in Default Codes is used.
  4. In the Codes section, specify this information:
    Payment Terms
    Select a payment terms code to calculate due dates and discount data for the customer's invoices. If this field is blank, then the invoice terms code in Default Codes is used.
    Memo Payment Terms
    Specify the memo payment terms code. If this field is blank, then the memo payment term code that is assigned in Customer Defaults is used.
    Foreign Economic Regulatory Code
    Specify the foreign economic regulatory code. Foreign economic regulatory payment codes are used on payment files that are required for some countries. If this field is blank, then the foreign economic regulatory code in Default Codes is used.
    AR Code
    Select the Receivables code for the customer that is used for open item processing. This code overrides the AR code of the process level during open item entry such as memos and invoices. If this field is blank, then the accounts receivable code that is defined in Default Codes is used.
    Remit Lockbox
    Select the remit-to lock box code that is used for the payment receipt. If this field is blank, then the remit lock box defined in Default Codes is used. The company name and address is also used for the remit to address on external accounts receivable forms. For example, statements, request for payment notices, and past due notices.
    Payment Code
    Select the payment code.
    Aging Code
    Select an aging code for the customer that is used for single customer aging. If this field is blank, then the aging code that is defined for the customer in Default Codes is used.
    Tax Code
    Select the tax code to use on the taxable line items during invoice entry for the customer. If this field is blank, then the tax code that is that is defined in Default Codes is used.
    Exempt
    Select this check box if the customer exempts from tax. If this field is blank, then the tax exempt option in Default Codes is used.
  5. In the Value Added Tax section, specify this information:
    Customer Type
    Select whether the customer type for VAT reporting is EEC Unregistered, Export,Domestic, or EEC Registered.
    Country
    Select the country component of the VAT registration number. This field, together with the registration number, create the VAT registration number for the company on the tax transaction.
    Registration Number
    Specify the number component of the VAT registration number. This field, together with the Country field, create the VAT registration number.
  6. In the Finance Charge Options section, specify this information:
    Charge Type
    Select whether the assessed type of charge is Finance Charges, Late Payment Charges, Both, or None.
    Rate Code
    Select a rate code for the customer. This code contains a monthly percentage rate which is used to calculate finance charges for a customer. If this field is blank, then the assigned rate charge code is used.
    Cycle Code
    Select a cycle code to finance charges to group customers with cycle codes for processing finance charges.
    Grace Days
    Specify the number of grace days to add to a transaction's due date before finance charges are assessed. If this field is blank,then the grace days that are defined are used.
    Print Notice
    Select this check box if finance charge documents are printed. If this field is blank, then the print notice option defined for the customer default code is the used.
    Calculation Method
    Select Net Balance Calculation to assess one finance charge based on the net amount of past due open items. Select Calculate Per Transaction to assess finance charges individually for each past due and paid late open item.
    Invoice Minimum
    Specify the minimum finance charge amount for an invoice.
    Customer Minimum
    If you select Charge Customer Minimum, then specify in company base currency the minimum finance charge amount to be assessed. If the calculated finance charge for the customer is less than the value you define, then the minimum charge is assessed.
    Charge Customer Minimum
    Select this check box to charge the minimum finance charge if the calculated amount is less than the minimum amount. If the minimum amount is blank, then the calculated amount is charged.
    Fixed Administrative Fee
    When a finance charge is assessed for the late payments, an additional fixed administrative fee can be charged.

    See Setting up interest charges on overdue debts.

  7. In the Statement Options section, specify this information:
    Statement Required
    Select this check box if statements are required for the customer. If this field is blank, then the statements required option that is defined in Default Codes is used.
    Open Item Cycle
    Select a statement cycle code to group customers for statement processing. If this field is blank, then the cycle code that is defined for the customer default code is used.
    Or Balance Forward Cycle
    Select the balance forward cycle code to group customers for processing statements.
    Past Due Only
    Select this check box whether statements are created for past due invoices only. If this field is blank, then the past due only option for the customer default code is used.
    Over Credit Limit Only
    Select this check box if a statement is only created when the customer's balance exceeds the credit limit. If this field is blank,then the over credit limit only option that is defined for the customer default code is used.
    Zero Balance
    Select this check box if statements are created when the customer has a zero balance. If this field is blank, then the zero balance option for the customer default code is used.
    Credit Balance
    Select this check box if a statement is created when the customer has a credit balance. If this field is blank, then the credit balance option for the customer default code is used.
  8. Click Save.