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Late Fee Invoice Generation

This Help File Page was last Modified on 12/31/2013

Late Fee Invoice Generation

This Help File Page was last Modified on 12/31/2013

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Late Fee Invoice Generation

This Help File Page was last Modified on 12/31/2013

Previous topic Next topic  
The Late Fee Invoice Generation method (rate, grace period, minimum charge, etc.) used to assess Late Fees is defined in Late Fee Groups.
Note: Be sure to create a generic Sale-Purchase Item named Finance/Late Charges assigning it the code F/C.

 

To assess Late Fees, from the Main Menu Click the File menu, Select Accounts Receivable, then Click Run Late Fee Generation
The Late Fee Invoice Generation dialog will open.

 

HelpFilesRunLateFeeGeneration

Late Fee Invoice generation dialog

 

Choose the Late Fee Group to which you want to assess Late Fees using the Drop-Down Selection List .
Click the Create Invoices button.
The process runs automatically and when finished, displays to whom, and how much, each Subscriber was charged a Late Fee.
Click Close (S) to exit the form.

 

Repeat this procedure at the appropriate time in the month for each of your Late Fee Groups.

 

Late Fee Invoices assessments are based on the Total Past Due Amount owed by the Subscriber, and calculated using the information you entered for the selected Late Fee Groups.
Each Invoice is created with the Sale-Purchase Item "F/C", its Description, the Finance Charge Price, a Quantity of 1, and the Total.
The Comments section is automatically inserted based on the rules set for this Late Fee Group.

 

 HelpFilesLateFeesInvoiceSample

Body of Late Fee Invoice showing Item, Description, Total and automatically created Comments