From Program Menu>Account Receivables>Print Statements
Click on the Print Statements icon, the statement box will open up. In the upper right corner of the screen you will see Finance Charges. This will show you the last time finances charges were assessed. You will have the option of assessing
Assess Button – Click on this button to assess finance charges for past due contracts, you will prompt for your Operator ID. Once entered, the following menu will be displayed:
Customers to report – “ALL” means assess finance charges for all customers that have had any activity or have a balance due. You can also select Individual or by Customer Type from the drop down menu.
Individual – Select one customer to assess finance charges. Select the customer in normal fashion such as by key, number, dl number, or name.
Customer type – With this selection, you can choose which type you would like to process. Then only those customers with that type will be selected.
Customer name from – By default all customers will be processed from A to Z. If for some reason you only wanted to include customers from A to M, you would change the ending letter to M.
Payment type to report – There are three different selections: Account, Cash, or Account & Cash. If Account is selected, only contracts that are account status will be considered. If Cash is selected, only contracts that are NOT account will be considered. If Account and Cash is selected, all contracts regardless of payment method will be considered.
Monthly percentage rate – This is the percentage rate charged for finance charges. All past due amounts will be multiplied by this percentage to compute new finance charge amounts. Note: This default is set in Parameters. The annual rate is the monthly percentage multiplied by 12.
Days until Finance Charges incur – No finance charges will be computed on contracts that are aged under this number. Only contracts aged days over this number will be charged finance charges. Note: This default is set in Parameters.
Charge Finance Charges on late Finance Charges – Checked means that previous finance charge amounts will be assessed finance charges just like any other contract. Unchecked means that finance charges will be exempt from further finance charges.
Age contracts from OPEN date – Checked means that the aged days of a contract are computed from the open date of the contract. Unchecked means that the aged days of a contract are computed from the closed date of the contract.
Charge all stores – This is for multi-store locations only. With this selection you can choose which contracts will be considered for finance charges by store number. If this is checked then all contracts will be selected in spite of store location. If you uncheck this box, you will get a new selection to enter the desired store number.
Print Finance Charge Invoices – Checked means that each new finance charge will print an invoice to mail to the customer. Unchecked means that no invoice will print.
Printer Select – This option allows you to select the printer for the statements. The report printer will be the default. This option is only valid if “Print Finance Charge Invoices” is selected.
Number of Copies – This option sets the number of copies of each invoice that is printed. This option is only valid if “Print Finance Charge Invoices” is selected.
Generate – Click the GENERATE button when you are ready to assess finance charges. IMPORTANT: Only assess finance charges once a month. If you assess more than once a month, the customer will be double billed for finance charges.
*Note: There is a field in the customer record labeled No Finance Charges. The Assess Finance Charges program uses this field to determine whether to assess a finance charge for a customer. With this field checked, no finance charges will be assessed for the customer regardless of any other settings in Assess Finance Charges menu.