Configuring Accounts Receivable

To configure Accounts Receivable, click the Setup button from the Accounts Receivable toolbar .

Finance Charges

Field	Enter the…
Finance Charge	Monthly percentage rate that will be charged against open charges
Begin Finance Charges	Amount of time that must elapse before the finance charges are applied (Since February is the shortest month, a value less than 28 is suggested, i.e., 20 days.)
Age Charges Based On	Date of charge or Date of first statement. This affects the length of aging, not the finance charge. Remember that the account begins to age after the first statement is sent.

Field

Enter the…

Finance Charge

Monthly percentage rate that will be charged against open charges

Begin Finance Charges

Amount of time that must elapse before the finance charges are applied (Since February is the shortest month, a value less than 28 is suggested, i.e., 20 days.)

Age Charges Based On

Date of charge or Date of first statement. This affects the length of aging, not the finance charge.

Remember that the account begins to age after the first statement is sent.

Messages for Statements

Enter the message you want to appear on customer statements. A different message may be selected for accounts that are current, over 30 days old, over 60 days old, and over 90 days old. When the information has been entered, click the OK button to update the configuration.