Initiating Charges

The purpose of initiating charges is to define a date you want to start assessing finance charges for a company that did not previously have finance charge options defined in Company (AR01.1) or Customer (AR10.1). If finance charge options are already defined for a company, see the section on assessing charges. Assessing Charges

Note: If you are using the Detail method of calculating finance charges, you must run this program to assign a start date before you run Finance Charge Late Payment (AR137). If you do not run this program, AR137 will assess finance charges on all open, past due transactions for a customer, regardless of transaction age.
Note: You do not need to run AR136 if you are calculating finance charges using the Net method.

To initiate finance charges

  1. Access Finance Charge Initiation (AR136).
  2. Select the company and enter a date you want the finance charges to begin. Use the following guidelines to enter field values:
    Update Option

    Select "R" for Report Only or "U" for Update and Report.

    Note: AR136 should only be run once in update mode.
    Default Code

    Selects all customers with a specific default code for finance charge initiation.

    Customer

    Select a customer.