Table of Contents
OpenPro Application Guide Accounts Receivables (AR)
Chapter 18: Statement Formats and Finance Charges
Introduction
The Statement Formats selection enables you to design your own statements for printing on plain paper or your company letterhead. You can specify which information will show in the statement’s header and footer areas and how the open item information is to print on the statement.
The process of creating statement formats parallels that for creating invoice formats described in detail in the previous chapter. Because statement components are different from invoice components, the selections are different; but the technique for defining data fields and text fields is the same in both cases. The fields available for printing on a statement are described in detail in the Statement Format Design Kit.
A statement format is sometimes referred to as a layout. It is also sometimes called a specification.
Customer statements can also be printed on plain paper for processing. Shown above is an example of the customer statement.
Finance Charge Options
Finance charge options are controlled via the ARFINANCE table.
First, this table must be set up by selecting Rules Setup > Maintenance > Table Type on the menu and creating/updating the table as follows:
Next, the finance charges options can be accessed by selecting Rules Setup > Maintenance > Table > AP Finance Charge Options:
The options are:
Chg By Cus Charge by customer vs. charge by invoice. If “Y” is entered here, the system will add all the invoices for the customer and calculate a single finance charge for the customer.
Fin GL # The default account number for finance charges.
Fin % The default finance charge percentage.
Fin Amount The fixed finance charge amount. If this dollar amount is filled in, this amount will be added to the amount that is based on the finance charge percentage.
Min Amount The minimum finance charge. If the calculated finance charge is less than this amount, no finance charge will be charged.
Overriding the Finance Charge Options
The default finance charge options can be overridden when running the Finance Charge Report in Accounts Receivable:
Clicking the ‘Process’ button will generate the report.
Posting Finance Charges
A posting button will appear at the bottom of the report. Clicking the button will generate the customer finance charge records and corresponding General Ledger transactions.
