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AR137 - Finance Charge Late Payment
Run Finance Charge Late Payment (AR137) to assess finance and/or late
payment charges for customers with finance charge options defined in Customer
(AR10.1).
IMPORTANT Be sure to run Application Closing (AR190) before you run
AR137 to include all applications.
To assess finance charges and late payments for a company that did not
have finance and late payment charges defined on Company (AR01.1), run Finance
Charge Initiation (AR136). If you do not run AR136 to select the date to start
assessing finance charges, AR137 will assess finance and late payment charges
on all open, past due transactions for a customer regardless of transaction
age.
**Processing Effect
The debit memo created for the finance charge will be converted into
the customer's default invoice currency. If the default invoice currency is
not a base currency, the exchange rate is the rate in effect on the date you
run AR137. The default payment method for the debit memo is the method of
payment (cash or bill of exchange).
AR137 creates a report by customer and transaction number and includes
both customer and company totals, which display in the company base currency.
Finance charges, late payments, and the amount due also display in the company
base currency. If you select interest charge by date on Company (AR01.1),
the report displays each rate used on a separate line.
AR137 creates detail and net reports by customer and transaction number.
The net and detail reports have a Transaction Currency (TC) column. If the
transaction currency is not equal to the company base currency, an asterisk
(*) will print in the TC column.
The report prints the customer's translated amount if the customer currency
is not equal to the company base currency.
**More Information
The Process Level and Finance GL Code fields are not selection parameters.
These fields determine how general ledger entries post for finance charge
debit memos.
If invoices subject to finance and late payment charges are associated
with a single process level, the debit and credit entries post using the AR
Code and Finance GL Code, respectively, tied to the process level of the
invoices.
You have the option of typing a different process level to override the
default
posting.
If there are multiple process levels assigned to the customer's invoices,
then the debit entry for the debit memo is posted using the AR Code linked
to the process level that you type. AR137 will use the Finance GL Code linked
to the process level for the credit entry, unless you enter a different
Finance
GL Code.
Updated Files
ADDRDATA -
ARACPIVOT -
ARAPPLIED -
ARCODE -
ARCOMP -
ARCUSTOMER -
ARCUSTPER -
ARDISTRIB -
AROIHDR -
AROITEMS -
AROPIVOT -
ARPAYMENT -
ARSUMMARY -
ARXIND -
CBBANKINST -
CKPOINT -
CUSTDESC -
JBOOKHDR -
MXLISTHDR -
NATBALANCE -
NOTICEWRK -
Referenced Files
ARADJUST -
ARCUSTGRP -
ARCYCLE -
ARDISPUTE -
ARFINANCE -
ARFINRATE -
ARITEMAUD -
ARPAYNOTTX -
ARPROCLEVL -
ARPYMNTHDR -
CUCONV -
CURELAT -
GLADDRESS -
GLCHART -
GLCODES -
GLSYSTEM -
INSTCTRYCD -
JBKOPCODE -
JBKSYSCODE -
NATACCT -
WFSETUP -
INVOKED Programs
IFCU
IFAC
ACAC
ACTA
API4
IFLU
IFOB
IFUP
IFSG
SLSE
SLSU
IFSC
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