If you set up
Terms Codes to establish finance charges, use this window when you need to
calculate them, usually once each month at billing or closing time.
Type an existing
AR Code or select one from the Lookup to calculate finance charges for customers with the selected AR Code. Accept the default of
All to calculate finance charges for all customers with a Terms Code that includes finance charges. The finance charges that are calculated might vary depending on how you set up Terms Codes of each customer.
Enter an existing
Transaction Codes or use the Lookup to select one. Usually, Transaction Codes for finance charges begin with a 9.
Enter a minimum finance charge dollar amount. Finance charges do not apply to customers with no balance.
A finance charge is a percentage of the amount due on the customer's record. If, when you generate transactions, the percentage amount is less than the dollar amount you enter in this box, the system will charge the amount you enter in this box. If the percentage amount is greater than the amount in this box, the system will charge the percentage amount. Remember that this is not the balance on which the finance charge is calculated, but the actual finance charge itself.
Enter the date or use the drop-down calendar to select the date to use for finance charge transactions. The finance charge date determines the accounting period into which the finance charge transactions will post. For more information about how Denali handles dates, see
Working with Dates.
After finance charges are calculated, you must post them to update the customer’s account.