1.Enter the ending date for calculation in the Calculation Date field. All invoices with an outstanding balances, that were delivered on or before the calculation date, will be assessed a finance charge.

 

•Only customers that have the Finance Charge option enabled in Customer Maintenance will be subject to finance charges being assessed on unpaid invoices.

 

2.Enter the percentage rate, to assess upon the unpaid balance of the invoice, in the Percentage field.

 

•The value will default to 1.5, which calculates out to an annual percentage rate of 18%.

 

3.Click the OK button.

 

4.    A dialog will be displayed informing the user of the total amount of finance charges that were added to accounts receivable. Clicking the OK button will return the user to the entrée application window.

 

NECS strongly recommends all users are out of the entrée system, when this utility is run. This will ensure the data integrity is not compromised by another user, accessing one or more of the data files while the operation is being performed.