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<< Click to Display Table of Contents >> Adjust Finance Charge |
  
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<< Click to Display Table of Contents >> Adjust Finance Charge |
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When applying finance charge to AR invoices or outstanding customer AR balances, the customers may negotiate for the amount charged. There might also be some instances where errors are made when applying the finance charges. These scenarios warrant changes or adjustments to the finance charges previously applied. In AccountMate, you can adjust these finance charges using the Adjust Finance Charge function.
To adjust finance charges, perform the following steps:
1.Access the Adjust Finance Charge function from the Finance Charge group in the Routine Tasks menu of the Accounts Receivable module. The Search screen is automatically displayed when this function is accessed.
2.In the Search field, enter the customer code that want to adjust finance charge. Alternatively, locate the customer code from the grid; then, double-click the code to select.
3.Accept or amend the default date displayed in the Adjust Date field. The default value is the current system date.
4.In the Invoice # field, select the invoice number of the apply finance charge transaction that you want adjust. Alternatively, you may click the List box button to select the invoice # from a list. When you select an invoice number, the information pertaining to the invoice that you have chosen is displayed in the corresponding fields.
5.If you want to view the total finance charge amount Detail Analysis, simply click the underlined Total Finance Charge field label. Clicking this field label will display the Finance Charge for Invoice # [xxx] window that shows the chargeable amounts, finance charge amounts and the date when these charges are applied to the invoice. The values shown in this window is for reference use only and cannot be edited.
6.In the Adjust Amount field, enter the amount that you want to apply to or against the finance charge previously applied to the invoice. Enter a positive (+) amount if you want to increase the finance charge, or a negative (-) amount if you want to decrease it.
7.When you are ready to save the finance charge adjustment, click the Save button in the function toolbar. A pop-up will appear informing you that the finance charge adjustment has been posted; click OK to acknowledge the message and complete the transaction.
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