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  • Section: Sales
  • Last updated: June 6, 2019, 3:08 p.m.

Finance Charges Calculated On Statements

Finance Charges are only displayed on Statements but do not create an Accounts Receivable transactions. Once the invoice is paid, regardless of whether the finance charges have been collected or not, you will no longer be able to generate a statement reflecting the total Finance Charges.

Make Sure The Terms Have Been Set
If you update the terms in a card file, this will only set the terms for new invoices going forward. It will not affect any previously recorded invoices. You will need to go into each pre-existing invoice and update the terms for that invoice. Click here for more information on setting up customer terms.

Turn on the Preference to Display Finance Charges on Statements
If you would like the finance charges added to the customers total balance due to be printed on the statement, be sure place a check mark in the option Add Finance Charges to Amount Due (No A/R Transaction) in the Advanced Filters window of the Print Statement window (Review Statements Before Delivery window).