Post Finance Charges |
  
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After the calculated finance charges have been reviewed and any adjustments or edits have been completed in Review Finance Charges (ACCOUNTS RECEIVABLE > FINANCE CHARGE OPTIONS > REVIEW FINANCE CHARGES) the charges can be posted to accounts receivable.
The posting produces a FINANCE CHARGES JOURNAL, which is the audit trail. Store this report for later.
Indicate YES to continue when prompted for confirmation prior to posting finance charges.
Finance charges are indicated on client accounts and statements with a document type F. The cut-off date is represented as the invoice date.
REVERSING FINANCE CHARGES
When reversing posted finance charges, first find the details of what amounts were posted and to whom.
You can either review the POST CHARGES JOURNAL that printed when you originally posted the incorrect finance charges, or you can run the EXPORT ACCOUNTS RECEIVABLE to excel and then look for the F type (Finance Charge) invoices.
Once you have a list of who was charged and for how much, you can add the credits for finance charges in Review Finance Charges (ACCOUNTS RECEIVABLE > FINANCE CHARGE OPTIONS > REVIEW FINANCE CHARGES.) Then return to the POST FINANCE CHARGES menu option to run the postings. Use the same date for this posting as the original incorrect postings date for audit trail purposes.