Generate a Finance Charge for an Overdue Customer Invoice
Generate a finance charge for an overdue customer invoice to calculate and assess finance charges on overdue invoices. Finance charges can be levied on a customer when an invoice payment is overdue.
- Set up the terms for customer finance charges (including percentage, grace periods, and rules for how ProContractor calculates and invoices finance charges).
- Calculate and assess the finance charges on overdue customer invoices.
- Review the customer finance charges in the posting group on the Customer Finance Charge Posting Journal screen.
- Modify the details of the customer finance charge and assign it to a different posting group, if needed.
- Post the customer finance charges in the posting group.
Note: Once you post customer a finance charge, you can no longer modify it. If you need to make any changes after posting, use the Adjust Customer Invoice screen.
