21st Century Accounting Help - Receivables

Finance Charges

In the Receivables/Finance Charges window, you apply to customers the finance charges (that you set up in the Receivables/Configure/Finance Charges window and assigned to customers in the Receivables/Configure/Customers window) once per billing cycle after you've completed all data entry.

You can also apply finance charges by way of the Receivables/Billing Cycle Checklist window.

You select a billing cycle and enter the date and posting period. Once you select customer accounts, you can toggle off any accounts to which you don't want finance charges applied.

Place your cursor over the customer name to display the drill-down magnifying glass symbol. Double click to view the customer’s activity in detail.

Press the Apply button to apply finance charges to delinquent accounts or to revolving charge accounts that have been set up to incur finance charges.

Buttons

Apply. Click the Apply button to post the finance charges that are marked with a checkmark to the customer account and to the Receivables and finance charges control accounts.
Void. Click the Void button to void finance charges by transaction date. A batch of the finance charges with the transaction date you enter is created and displayed in the Invoice Updates window. Post the batch to finish voiding the finance charges. (You can delete any finance charges in the Invoice Updates batch that you do not want to void.)