CounterPoint SQL V8.3.5 Release Notes
Setting up finance charge batches
Before users can create and post finance charges for A/R customers, you must set up batches for finance charge transactions. You can define a Finance charges batch for each user who is allowed to process finance charges, or you create a DEFAULT batch that anyone can use.
Use the Batches window (Setup / System / Batches) to create a Finance charges batch for each user, or click the Set up batches button on the Users window (Setup / System / Users) to create batches for all batched transactions, including finance charges, for a specific user.
To create a DEFAULT batch to allow all users to enter and post finance charges, click the Set up batches button the Company window (Setup / System / Company).
In a Multi-Site environment, you must create a batch for each user or site. Do not use the Set up batches button on the Company window to create DEFAULT batches.
Calculating finance charges
Once you have assigned the appropriate finance charge codes to your A/R customers, you can use the Calculate Finance Charges function to automatically create finance charge transactions for each A/R customer.
To calculate finance charges, select Customers / Finance Charges / Calculate Finance Charges, and then specify a Cutoff date.
Only A/R documents that were posted on or before the Cutoff date you specify will be considered in the finance charge calculation.
You can use the Customer tab to define criteria to filter the customers for whom finance charges are calculated.
When you have specified the appropriate filtering criteria, click Preview to display the CALCULATE FINANCE CHARGES report. This report lists the finance charges that will be created for each A/R customer, allowing you to review the finance charge calculations before creating actual finance charge transactions.