Difference between revisions of "Late Fees / Finance Charges"
(Created page with "If you are using late fees, each customer that would get charged a late fee should have the rate set in their customer record <br>File:Customer_FinanceChargeField.png <br>Y...") |
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<br>You can also set a default so any new customer you create will have the finance charge field populated with the default rate | <br>You can also set a default so any new customer you create will have the finance charge field populated with the default rate | ||
| − | ( | + | ('''Setup''' > '''Company''' > '''Customer Defaults''' >''' Finance Chg %'''. Enter monthly rate) |
<br>[[File:CustomerDefault_FinanceCharge.png]] | <br>[[File:CustomerDefault_FinanceCharge.png]] | ||
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<br>Then you can run a utility that will calculate the late fee for all of your open invoices | <br>Then you can run a utility that will calculate the late fee for all of your open invoices | ||
| − | <br>- Go to Utilities > Utilities > System | + | <br>- Go to '''Utilities''' > '''Utilities''' > '''System''' |
| − | <br>- Select Generate Finance Charges | + | <br>- Select '''Generate Finance Charges''' |
| − | <br>- Click Run It | + | <br>- Click '''Run It''' |
<br>- SME will calculate the finance charges. | <br>- SME will calculate the finance charges. | ||
<br>[[File:Utilities_GenerateFinanceCharges.png]] | <br>[[File:Utilities_GenerateFinanceCharges.png]] | ||
| − | <br>The late fee shows on the Totals tab on the invoice | + | <br>The late fee shows on the '''Totals''' tab on the invoice |
<br>[[File:LateFeesTotalsTAb.png]] | <br>[[File:LateFeesTotalsTAb.png]] | ||
<br>You can also go to individual invoices and calculate late fees. | <br>You can also go to individual invoices and calculate late fees. | ||
<br>- Go to the invoice | <br>- Go to the invoice | ||
| − | <br>- Click Actions > Calculate Finance Charge. | + | <br>- Click '''Actions''' > '''Calculate Finance Charge'''. |
<br>[[File:Invoice_ActionsGenerateFinanceCharge.png]] | <br>[[File:Invoice_ActionsGenerateFinanceCharge.png]] | ||
Revision as of 23:51, 18 December 2012
If you are using late fees, each customer that would get charged a late fee should have the rate set in their customer record
You can also set a default so any new customer you create will have the finance charge field populated with the default rate
(Setup > Company > Customer Defaults > Finance Chg %. Enter monthly rate)
Setup how many days past due you want to start calculating finance charges:
- Go to Setup > Company > System
- Click Edit
- Locate the Calculate finance charges when invoice is ____ days past due (image below). Enter number of days.
- Click Save.
Then you can run a utility that will calculate the late fee for all of your open invoices
- Go to Utilities > Utilities > System
- Select Generate Finance Charges
- Click Run It
- SME will calculate the finance charges.
The late fee shows on the Totals tab on the invoice
You can also go to individual invoices and calculate late fees.
- Go to the invoice
- Click Actions > Calculate Finance Charge.
