The Finance Charge area has the following setup pages:
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This page defines the characteristics of fees used in the finance charge process. Accounts Receivable Department and Unit are included to allow Finance Charges to be defined departmentally by specific departments and units. If Finance Charges are to be defined centrally, then a value of ALL should be used in both the Department and the Unit field. |
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This page is optional and used to define finance charged into a structure of staged intervals by Department and Unit. This supports the use of multiple finance charges (1 to as many as are needed) to be applied to receivables by the Finance Charge Chain. |
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Used to specify an adjustment reason for the Finance Charge that can be used on modified receivables automatically generated by the finance charge process. |
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Used to set up finance charge eligibility for Accounts Receivable event types. The system automatically applies finance charges to the event types specified. Changes to this table take effect immediately, but do not apply retroactively to past finance charges. |
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Options and controls are required to be set at the System Options table level. If override is permitted, some of these options and controls can be overridden on the Billing Profile table. In addition, if the Billing Profile table allows for override, controls and options related to finance charges can be overridden on the Revenue Source table. Refer to the "Accounts Receivable Options Setup on System Options" topic for more information about the fields on System Options that apply to Finance Charge setup. |
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Used to set up options and controls used in finance charge processing – many of the same controls as found on System Options, but, if override is set of System Options, settings on Billing Profile are applied at the customer account level. Note: Finance charges are applied right from the first day once the grace period is over. For purposes of calculating finance charges, the first day after the grace period has expired will be ‘Day 1’ for the calculation of charges. Charges will not be applied retroactively to the first day the Receivable was late. |
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Used to set up to five codes to be used for finance charges and to specify interest type. The override flag on applicable fields in the Billing Profile table determine whether the setup values on the Revenue Source table can be used. |