Late Fees / Finance Charges - Revision history

Amy at 22:45, 22 August 2013

2013-08-22T22:45:55Z

Amy: /* Sync Invoice with Late Fees to QuickBooks */

2012-12-19T00:16:52Z

Sync Invoice with Late Fees to QuickBooks

Amy at 00:16, 19 December 2012

2012-12-19T00:16:16Z

Amy at 23:51, 18 December 2012

2012-12-18T23:51:13Z

Amy: Created page with "If you are using late fees, each customer that would get charged a late fee should have the rate set in their customer record
File:Customer_FinanceChargeField.png
Y..."

2012-12-18T20:24:27Z

Created page with "If you are using late fees, each customer that would get charged a late fee should have the rate set in their customer record File:Customer_FinanceChargeField.png Y..."

New page

If you are using late fees, each customer that would get charged a late fee should have the rate set in their customer record

 [[File:Customer_FinanceChargeField.png]]

 You can also set a default so any new customer you create will have the finance charge field populated with the default rate
(setup > Company > Customer Defatuls > Finance Chg % ---enter monthly rate)

 [[File:CustomerDefault_FinanceCharge.png]]

 Setup how many days past due you want to start calculating finance charges:
 - Go to '''Setup''' > '''Company''' > '''System'''
 - Click '''Edit'''
 - Locate the '''Calculate finance charges when invoice is ____ days past due''' (image below). Enter number of days.
 - Click '''Save'''.

 [[File:EnterDaysPastDue.png]]

 Then you can run a utility that will calculate the late fee for all of your open invoices
 - Go to Utilities > Utilities > System
 - Select Generate Finance Charges
 - Click Run It
 - SME will calculate the finance charges.

 [[File:Utilities_GenerateFinanceCharges.png]]

 The late fee shows on the Totals tab on the invoice
 [[File:LateFeesTotalsTAb.png]]

 You can also go to individual invoices and calculate late fees.
 - Go to the invoice
 - Click Actions > Calculate Finance Charge.

 [[File:Invoice_ActionsGenerateFinanceCharge.png]]

@@ Line 27: / Line 27: @@
 <br>[[File:LateFeesTotalsTAb.png]]
-<br>You can also go to individual invoices and calculate late fees.
 <br>- Go to the invoice
 <br>- Click '''Actions''' > '''Calculate Finance Charge'''.

@@ Line 35: / Line 35: @@
 == Sync Invoice with Late Fees to QuickBooks ==
-If you check '''Export to QB''' on an invoice with a late fee on it, the late fee passes to QB through SMP_LateFees as shown in the image below.
+If you check '''Export to QB''' on an invoice with a late fee on it, the invoice will go to QuickBooks and the late fee passes to QB through SMP_LateFees as shown in the image below.
 <br>[[File:LateFeesOnInvoice.png]]

← Older revision		Revision as of 00:16, 19 December 2012
Line 32:		Line 32:

	<br>[[File:Invoice_ActionsGenerateFinanceCharge.png]]		<br>[[File:Invoice_ActionsGenerateFinanceCharge.png]]
		+
		+
		+	== Sync Invoice with Late Fees to QuickBooks ==
		+	If you check '''Export to QB''' on an invoice with a late fee on it, the late fee passes to QB through SMP_LateFees as shown in the image below.
		+	<br>[[File:LateFeesOnInvoice.png]]
		+
		+	<br>Make sure you have the income account and tax code set on the SMP_LateFees item in QuickBooks
		+	<br>- Open QuickBooks
		+	<br>- Click '''Lists''' > '''Item List'''
		+	<br>- Locate '''SMP_LateFees''' and open the item up
		+	<br>- Set the '''Income Account''' you want to use for late fees
		+	<br>- Set the '''Tax Code''' on the item
		+	<br>- Click '''OK'''
		+	<br>[[File:SMP_LateFeesOnInvoice.png]]