Modified: 2018/04/05 15:18 by EricCrocker - Uncategorized

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Finance Charges 2013

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Introduction

Enabling this add-on will provide access to the tools related to applying and managing finance charges on Statements,Invoices, adds APR to the Customer window's Billing tab, adds Finance Charge checkbox to Settings - Credit Policy and adds Finance Charges $ and Finance APR columns to some reports and the Finance report in Reports. It also adds the ability to remove Finance charges with a Finance Charge Adjustment in AR.

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Configuration

Before you activate (see below) review and application of finance charges against aging invoices; it is very important that you review the configuration across all areas where finance charges is utilized.

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Credit Policies

To add Finance to Credit Policy please go to Settings -> CreditPolicies.


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Customers

Open Contracts and double click the customers that needs finance charges add to their account, this will open the customer window. Click on the Billing tab and then select Finance Credit Policy that applies to the customer.

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Contracts

To access this feature please go to Contracts and in the customer pane select a customer and double click it. From the Billing tab scroll down to Financing. From here a drop down menu will allow the end user to set the Credit Policy and the Finance Charge APR % can manually be entered.


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Activate

From the Dashboard, launch Settings, Group and switch to the Options tab.



Find the "Enable the Finance Charges"; activate the check box for this item to actually enable the processing and application of finance charges based on the settings related to creditpolicies, customers and individual contracts.


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Usage

When working with new contracts create your contract as you normally do and as long as you have already setup the Customer correctly under Billing then there should be nothing else to do when creating a contract.


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Invoices

When you look at an invoice this is how you will see the finance charges.



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Statements

This how finance charges appear on statements.


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Adjustments

How to create a Finance Adjustment

In AR go to the customer pane and select the desired customer then under the Transaction pane select the Add Adjustment button. Under the Type drop down box please select the Finance Charge. At this point we are taking off 28.91 from invoice 957-7. Enter the amount and we suggest adding a comment for future reference. With the drop down for Station, Revenue Source, Revenue Type and Sales Person are all set to Any, this allows us to see all the invoices and allows us to make changes. Click the green Pay button and then Apply to take the finance charge off of the invoice.




To change it back, click the green Reverse and the adjustment is taken off.


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Reports

Enhancements to Existing Reports

• Reconciliation - Addition of Finance $ column.
  • The Finance $ and Detail columns allows the customer to track individual finance charges over a chosen time for an invoice or multiple invoices.
• Accounts Receivable Aging and Accounts Receivable Aging (by Month) - Addition of Finance Charge column.
  • The Accounts Receivable Aging report shows invoices, payments and finance charges over a 120 days where the The Accounts Receivable Aging (by Month) shows the same thing but shows it month and year.
• Customer - Addition of Finance APR column.
  • This report gives details of the customer and now allows with this add-on to see the Finance Charge percentage tied to the customer.
• Commission - Addition of Finance $ column.
  • This report originally displays commission dollar, net $ and the finance $ tied to a to a client.
• Invoice - Addition of Finance Charge column.
  • Show the detailed issues concerning Invoices and with the add-on adds Finance Charge dollars.

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FAQ

Coming soon.

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Additional Information

Coming soon.