Difference between revisions of "Assess Finance Charges Screen"
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*'''Party ID''' - Enter the internal ID of the party whose invoice you are assessing the charge to, or search for it using the [[lookup widget]]. | *'''Party ID''' - Enter the internal ID of the party whose invoice you are assessing the charge to, or search for it using the [[lookup widget]]. | ||
*'''Party Classification''' - Select the appropriate customer classification (for example, "Do Not Ship Customers" or "Net 30 day billing") from the drop down menu. | *'''Party Classification''' - Select the appropriate customer classification (for example, "Do Not Ship Customers" or "Net 30 day billing") from the drop down menu. | ||
| − | *'''Grace Period''' - Enter the number of days for the payment grace period | + | *'''Grace Period''' - Enter the number of days for the payment grace period. Invoices will not be assess a finance charge during their grace period, and newer invoices which are not older than the grace period will not be shown in the list below. |
| − | *'''Interest Rate''' - Enter the interest rate | + | *'''Interest Rate''' - Enter the interest rate for the finance charges. |
| − | Clicking the [Find] button will bring up any invoices that match the criteria you have entered. | + | Clicking the [Find] button will bring up any open invoices that match the criteria you have entered and display the following information: |
| + | |||
| + | * '''Invoice ID''' - This is the internal ID of the open invoice. | ||
| + | * '''Invoice Date''' - This is the date the invoice was issued to the customer. | ||
| + | * '''Customer Party''' - This is the name and internal ID of the customer who you sent the invoice to. Clicking on the customer name will take you to the [[Customer Statement Screen]]. | ||
| + | * '''Days Outstanding''' - This is the number of days since the invoice due date. | ||
| + | * '''Outstanding''' - This is the amount of money the customer owes your organization. | ||
| + | * '''Previous Finance Charges''' - This is the amount of money that have previously been charged to the customer. | ||
| + | |||
| + | You may assess the finance charges using the following fields: | ||
| + | |||
| + | * '''Finance Charge For Invoice''' - Enter the amount to be charged for the overdue invoice according to the interest rate. By default, the system will calculate the finance charge for you based on the interest rate and grace period you have entered. | ||
| + | * '''Description''' - Enter a brief description to distinguish the finance charge from other charges. Please note that the description will read "Finance Charge For Invoice #" (where the "#" space will automatically display the relevant internal invoice number) by default. | ||
| + | |||
| + | Clicking the check box next to any invoice for which you are assessing the finance charge and clicking the [Assess Finance Charges] button will assess the charges and update the screen to reflect the amount charged. | ||
Latest revision as of 17:27, 14 December 2007
This screen allows you to assess finance charges on overdue invoices created for customers. You may search for the invoices using the following fields:
- Party ID - Enter the internal ID of the party whose invoice you are assessing the charge to, or search for it using the lookup widget.
- Party Classification - Select the appropriate customer classification (for example, "Do Not Ship Customers" or "Net 30 day billing") from the drop down menu.
- Grace Period - Enter the number of days for the payment grace period. Invoices will not be assess a finance charge during their grace period, and newer invoices which are not older than the grace period will not be shown in the list below.
- Interest Rate - Enter the interest rate for the finance charges.
Clicking the [Find] button will bring up any open invoices that match the criteria you have entered and display the following information:
- Invoice ID - This is the internal ID of the open invoice.
- Invoice Date - This is the date the invoice was issued to the customer.
- Customer Party - This is the name and internal ID of the customer who you sent the invoice to. Clicking on the customer name will take you to the Customer Statement Screen.
- Days Outstanding - This is the number of days since the invoice due date.
- Outstanding - This is the amount of money the customer owes your organization.
- Previous Finance Charges - This is the amount of money that have previously been charged to the customer.
You may assess the finance charges using the following fields:
- Finance Charge For Invoice - Enter the amount to be charged for the overdue invoice according to the interest rate. By default, the system will calculate the finance charge for you based on the interest rate and grace period you have entered.
- Description - Enter a brief description to distinguish the finance charge from other charges. Please note that the description will read "Finance Charge For Invoice #" (where the "#" space will automatically display the relevant internal invoice number) by default.
Clicking the check box next to any invoice for which you are assessing the finance charge and clicking the [Assess Finance Charges] button will assess the charges and update the screen to reflect the amount charged.
