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Create Finance Charge Memos Batch Job

  • 아티클

Creates finance charge memos for customers with overdue amounts. (This includes both open entries where payment is overdue and closed entries where payment was late.)

To create finance charge memos automatically, open the Create Finance Charge Memos window. You must specify a document date to be used in the batch job.

The batch job uses information from the customer card to determine the relevant terms for the finance charge memo. The batch job uses the fin. charge terms code assigned to the customer to determine the following for the finance charge memo:

  • due date of the finance charge memo

  • interest rates

  • whether to include additional fees

  • whether to use any predefined text

  • how to calculate interest

  • whether to post interest and additional fees

The batch job calculates finance charges according to the method of interest calculation (Average Daily Balance or Balance Due), the interest rate, interest period, minimum amount, and other conditions you define in the Finance Charge Terms table.

You can specify in the Interest Calculation field in the Finance Charge Terms table whether the program, when calculating interest, should include open entries, closed entries or all entries.

The batch job checks customer ledger entries to determine if any payments are overdue (or for closed entries, were overdue when paid by the customer). The program does this by adding the grace period (as defined in the relevant finance charge terms code) to the due date on the customer ledger entries to determine if any customer ledger entries are overdue. The batch job then inserts the overdue customer ledger entries in the finance charge memo lines and calculates finance charges on each line. You can see the finance charge that the batch job has calculated for each entry in the Amount field on the finance charge memo.

Important

The batch job only inserts customer ledger entries that are in the currency represented by the currency code on the finance charge memo header. The batch job creates one finance charge memo per currency for which there is entries on which interest is calculated.

When you run the batch job, the information in the Grace Period field in the Finance Charge Terms table determines when first and subsequent finance charge memos will be suggested.

You can define what is included in the batch job by setting filters. You can also determine how the batch job is executed by filling in the fields on the Options FastTab. Fill in the fields as follows:

Options

Posting Date: Enter the date that will appear as the posting date on the header of the finance charge memo created by the batch job.

Document Date: Enter a document date for the finance charge memo. This date is also used to determine the due date for the finance charge memo. The batch job uses the document date to determine which customer ledger entries to insert in the finance charge memo lines. If you use the Average Daily Balance method for interest calculation, the program uses this date to calculate finance charges on each overdue customer ledger entry.

Click the OK button to start the batch job. If you do not want to run the batch job now, click Cancel to close the window.

Note

The program always calculates interest on each finance charge memo line. If the line contains a negative amount, a negative interest amount is calculated. You will not be able to issue a finance charge memo that contains a line with negative interest. You should investigate the customer ledger entry that causes the negative interest to be calculated. In many cases, the reason will be that the entry has not been applied correctly to another entry.

Note

If the program encounters problems that make it impossible to create one or more finance charge memos, you will receive an error message when the batch job has finished. If you click Yes, you will see a window with a list of customers for which creation of finance charge memos failed. To find out what the problem is, create a finance charge memo manually for the customer, using the Suggest Fin Charge Memo Lines batch job. You will then receive a message that explains where the error occurred.

Tip

For more information on how to work with batch jobs, see How to: Run Batch Jobs and How to: Set Filters. For assistance in finding specific pages, see Search.