Generate Finance Charges

The Accounting Manager will generate finance charges for overdue customer invoices if desired. In order for the system to generate the finance charges, each customer record that finance charges should be generated for should have one of the finance charge codes set up for it. Please see the Customer Information in the previous section for more information on setting up finance charges.

Generation Date
This is the date the system will use to determine how many days an invoice is overdue.

Apply To:
If you want the system to generate finance charges for all customers and owners, select All Customers/Owners. If you only want the system to generate finance charges for certain customers and owners, choose Selected Customers/Owners. This will allow you to choose the appropriate customers or owners from a list.

Process
Press the Process button to have the system generate the finance charges if you choose to generate for all customers. If you choose to select the customers the finance charge would be generated for, a selection will appear that will allow you to select the customers desired.

To select the customers that finance charges should be generated for, double-click on each customer to add them to the list of customers being charged. If you wish to add a range of customers, you can click on the first customer you wish to add, hold down the shift key on your keyboard, and then click on the last customer to be added. It should highlight all the customers in between, and you can click the add button to include these customers in the list of people to be charged. Holding down the CTRL key while clicking on customers will allow you to select or deselect customers individually.

When all desired customers have been chosen, click on the OK button. This will start the finance charge generation process.

When finance charges are generated, the system creates an invoice for each customer who is getting charged a finance charge. The finance charge invoice numbers start with 'FC' and a sequence number.

Finance Charge invoices for owners can be printed directly from the Sales/Invoicing when viewing their invoice. Their FC invoice can be selected from the lookup list by clicking the List button on the toolbar while that is open.