Understanding Finance Charges

 

The system's customer payment terms are maintained within System | Support Files | Customer Terms | Properties.

 

When creating a customer, one of the available terms is applied to the customer.  The customer terms field is located within the menu selection of AR | Customer File | Accounting.

 

When an invoice is created within Point of Sale (POS) | Ring Sale and the payment type of Account Charge is selected, (End Sale (F2) | Account Charge), the selected customer's payment terms are applied to the invoice.  

 

If the customer's payment terms are modified after the invoice is created, the original payment terms established when the invoice was created are not automatically updated.   Editing of the invoice header in POS | Manager Screen | Edit Invoice Header is required to change the individual invoice payment terms.

 

If the system's customer payment terms (System | Support Files | Customer Terms | Properties) are modified after an invoice has been created, editing of the invoice header is required to change the individual invoice payment terms in POS | Manager Screen | Edit Invoice Header.