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Accounts receivable

Set up finance charges

  1. Choose
    Setup
    , then
    Finance Charges
    .
  2. Enter a unique ID (up to 11 characters) and a description (up to 30 characters) for the finance charge.
  3. In the
    Annual rate
     field, enter the applicable percentage rate.
  4. If you want to set a grace period after the due date, select the unit (days, months, weeks), and enter the number of units.
  5. To include prior finance charges in the total when calculating finance charges, mark the
    Compound
     checkbox.
  6. Select the date from which to calculate the finance charge.
  7. If you charge a minimum finance charge, enter that amount in the
    Minimum finance charge
     field.
  8. Select the applicable GL account for the finance charge transactions.
  9. If the finance charge amounts are taxable, mark the
    Taxable
     checkbox.
  10. In the
    Customer past due balance
     field, enter the minimum amount that the customer can carry as the past-due balance before the application calculates the finance charge.
  11. Select
    Enter
     to save the finance charge.

This article applies to:

  • Product: Accounting CS,Accounting CS Client Access

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