Enable this option if the customer should be charged a finance charges for past dues invoices.

 

•Finance Charges are normally generated during the Close Period process,

 

•Finance Charges can be manually generated at any time using the Compute Finance Charge utility in the System > Recalculate menu.

 

Select a Calculation Date.

 

Set the percentage and click OK to run it.

 

The finance charge amount is displayed in the Information dialog.

 

Click OK to close.

 

•Physical invoices are not created for finance charges, but they are assigned an invoice number and they will be shown on the customer's printed statement.

 

•The Finance Charge report can be used to view finance charges that have been billed.