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Finance Charges 2013
<div id="Text"> ==Finance Charges 2013== [Client45_Premier#Add-Ons|back] ===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]. ===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. ====Credit Policies==== To add Finance to Credit Policy please go to [Settings] -> [CreditPolicies]. <center>[image||{UP}Finance_Charges_2013/CreditPolicy.png]</center> {br} ====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]. ====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. <center>[image||{UP}Finance_Charges_2013/CustomerPaneBilling.png]</center> {br} ====Activate==== From the [Dashboard], launch [Settings], [Group] and switch to the '''Options''' tab. <center>[image||{UP}Finance_Charges_2013/FinChargesOptions.png]</center> 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]. ((('''VR''' - When activated all existing invoices for that Customer will have finance charges applied to them based on rules configured for that Customer. For example you have a finance charge called Net15 set for 10% and a grace period of 15 days. This charge is configures on the Billing tab of CustomerA. CustomerA has an invoice that is 90 days late with a balance of 100.00 but the option for finance charges is not checked. When this option is enabled this invoice will have 3 finance charges added. The first will be 15 days, the Grace Period, after the last day of the billing cycle in which the invoice was due. The next will be 30 days after that date and the final will be an additional 30 days after that.))) ===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. {BR} ====Invoices==== When you look at an invoice this is how you will see the finance charges. <center>[image||{UP}Finance_Charges_2013/InvoiceFinVer2.png]</center> ====Statements==== This how finance charges appear on [statements]. <center>[image||{UP}Finance_Charges_2013/Statement.png]</center> {BR} ====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. <center>[image||{UP}Finance_Charges_2013/FinChargeAdjust.png]</center> {BR} To change it back, click the green Reverse and the adjustment is taken off. {br} ====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. ==FAQ== Coming soon. ==Additional Information== Coming soon. </div> <DIV class=transcludedpage> <div id="Side">((('''ADD-ON:'''{br}Contact sales for pricing))) {br} {toc} {br} {br} {br} {br} {br} {br} {br} {br} {br} {br} {br} {br} {br} {br} {br} {br} {br} {br} {br} {br} {br} </div> </div> <SCRIPT type=text/javascript> var navItem = document.getElementById('ManualTab'); navItem.className = 'active'; </SCRIPT>
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