Finance Charge

Accounting ›› SMSTurbo Billing ›› AR Invoice ››
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To access finance charges on over due invoices, the Customer must first have finance charge percentage set up in their Invoice Terms.  

Go to Accounting-Billing History, click Finance Charges.  You can also use Accounts-Customer and click the History icon.

In sample above, CustomerIDs ABC, AVGJOE AND BEE all have finance charge set up on their Customer Maintenance Terms.

When Finance Charge is selected, the screen will display the customers.

Assign these Terms to Finance Charges -0-None will not calculate finance charges on these finance charge invoices.

When accessing finance charge, an invoice is actually created.  Finance Charge Date will be the Invoice Date.

The Amount Financed column is the total over 30 days past due.

The Finance Charge is 1% of the Amount Financed.

Select all or check off only the customers you want access finance charge.

Click Save.

Three invoices dated 7/15/15 with Finance Charge Description.