The Apply Late Charges utility allows you to apply late charges to customers with outstanding balances based on the Late Charge Fee or Rate and Minimum Balance for Fee or Rate specified in Revenue Center Information. This applies only to items marked to calculate late fees on the unpaid balance (item setup). Late charges do not apply to customers who have Do not charge late fees selected on their record in Customer Information.
Filters
- Select the Invoice Late as of date. Late charges are applied to open invoices if the Due Date is on or before this date.
- Narrow the scope by applying any of the following filters:
- Revenue Centers
- Sources
- Divisions: A filter is available for each division set up in Preferences.
- Select the Invoice Date for Late Charges. The invoices created for late charges will use this date.
- Click the Search button to display the Accounts Receivable Late Charge Report.
Late Charge Report
For each Bill To, the first row shows the Late Charge Invoice # and the Late Charges amount. The next row shows the Invoice #, Due Date, and Late Balance for the invoice that generated the late charge. A Total displays for each bill to, along with a Total Late Charges number and a Final Total.
You can navigate the pages, export to several formats (for example, PDF, Excel, Word), and Print.
Finalize Post
Edit the Posting Date if desired, then click the Finalize Post button to apply your late charges and post the detail to the General Ledger. Note: The Post Directly to General Ledger without Editing option posts the journal entry through to General Ledger History so it can be viewed on reports and on the View Posted Journals page within General Ledger. This lets you skip editing and posting the journal entry on the Manage Unposted Journals page in General Ledger.
If you do not want to apply your late charges, click the Cancel link to return to the Accounts Receivable dashboard.
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