Finance Charge Group Maintenance

Menu Path: Credit and Collections $Images\bluerarw.gif$ Module Setup $Images\bluerarw.gif$ Collection $Images\bluerarw.gif$ Finance Charge Group Maintenance

Purpose

Add, update, or delete finance charge groups.

Overview

Use Finance Charge Group Maintenance to create new finance charge groups, and define finance charge calculation rules.

Note A finance charge cannot be created for a customer without assigning the customer to a finance charge group.

For database information for this window, see Finance Charge Group Maintenance Database Information.

Ribbon Home Tab Buttons

Button	Description
Exit	Click this button to close the Finance Charge Group Maintenance window.
New	Click this button to create a new finance charge group.
Update	Click this button to update the selected finance charge group.
Delete	Click this button to delete the selected finance charge group.
OK	Click this button to accept an action. This button is only available after you click the New, Update, or Delete button in the ribbon.
Cancel	Click this button to cancel an action. This button is only available after you click the New, Update, or Delete button in the ribbon.
First	Click this button to display the first finance charge group.
Prev	Click this button to display the previous finance charge group.
Next	Click this button to display the next finance charge group.
Last	Click this button to display the last finance charge group.

Fields and Buttons

Field or Button	Description
Finance Charge Group ID	Enter the finance charge group ID, or click the Lookup button to select an existing finance charge group ID.
Finance Charge Group Name	Enter the finance charge group name, or click the Lookup button to select an existing finance charge group name.

Main Tab Fields and Buttons

Field or Button	Description
Display Currency	Click the Lookup button to select the currency for all amounts displayed in this window. This field defaults to the default general ledger currency. The Lookup button is disabled when you are creating, updating, or deleting a finance charge group.
Sort Sequence	Enter a sort sequence for the finance charge group.
Gets Finance Charge	Select this check box to assess finance charges for the finance charge group.
Print Finance Charge Invoices	Select this check box to print finance charge invoices for the finance charge group. Note Some customers will only pay from an actual finance charge invoice, and some customers will pay based on a finance charge displaying on a customer statement.
Minimum Finance Charge Amount	Enter an amount if you want to only assess a finance charge if it calculates to be at least this amount.
Annual Finance Charge %	Enter the annualized finance charge percentage.
Finance Charge Grace Days	Enter the number of days past the due date that the invoice is still considered current for finance charge assessment purposes.
Use Date-Specific Or Average Daily Calculation	Click the Lookup button to select how the finance charge calculation is made. Note The average daily calculation is slated for functionality in a future release.
Finance Charge Payment Terms	Click the Lookup button to select the payment terms to use when creating finance charges. This affects the due date of these transactions.
Offset Unapplied Payments	Select this check box to offset unapplied payments against the oldest past due invoices to determine whether there is a past due balance. Example There are two past due invoices totaling $2,000. There are three unapplied payments totaling $1,800. If this check box is selected, then the past due balance is considered to be $200, otherwise it is $2,000.
Offset Credit Memos	Select this check box to offset credit memos against the oldest past due invoices to determine whether there is a past due balance. Example There are two past due invoices totaling $2,000. There are three credit memos totaling $1,800. If this check box is selected, then the past due balance is considered to be $200, otherwise it is $2,000.
Offset On-Accounts	Select this check box to offset on-account transactions against the oldest past due invoices to determine whether there is a past due balance. Example There are two past due invoices totaling $2,000. There are three on-account transactions totaling $1,800. If this check box is selected, then the past due balance is considered to be $200, otherwise it is $2,000.
Include Debit Memos	Select this check box to include debit memos for finance charge past due determination.
Include Finance Charges	Select this check box to include previous finance charges for finance charge past due determination.
Include Chargebacks	Select this check box to include chargebacks for finance charge past due determination.
Include Disputed Invoices	Select this check box to include disputed invoices for finance charge past due determination.
Include C.O.D. Invoices	Select this check box to include C.O.D. invoices for finance charge past due determination.
VAT Taxable	Select this check box if finance charges for the finance charge group are VAT taxable. Note This check box is only available if Show is selected for the VAT Display Level field in Tax Control Maintenance.
VAT Class Code	Enter a VAT class code for the finance charge group, or click the Lookup button to select a VAT class code. This determines the VAT rate for finance charges for the finance charge group. For information on setting up VAT class codes, see VAT Class Maintenance. This field is only enabled if you select the VAT Taxable check box. Note This field is only available if Show is selected for the VAT Display Level field in Tax Control Maintenance.
Output VAT Account	Enter the output VAT general ledger account to use for finance charges for the finance charge group, or click the Lookup button to select an account. For more information on output VAT accounts, see VAT Account Resolution. This field is only enabled if you select the VAT Taxable check box. Note This field is only available if Show is selected for the VAT Display Level field in Tax Control Maintenance.