RB User Guide > Receivables > Finance Charges

Clearing finance charges

When a client makes a payment that only covers the current balance of an invoice and not the finance charge, you can zero out the finance charge. However, any invoice with a zero balance is considered paid in full even though it still has unpaid finance charges or late charges.

1. Receivables > Finance Charges
2. In Search By pane, make selections if needed:

   • Finance Charge Date From

     Default is today. Change date if desired. See Date Navigator.

   • Finance Charge Date To

     Leave blank unless you are looking for charges in a date range in the past.

   • Bill To Firm

     To find finance charges for a particular client, click . See Looking up firms. Otherwise, leave blank to find finance charges for all clients.

   • Invoice No.

     Enter the invoice number to find finance charges for a single invoice.

   • Business Units

     Profit centers or parts of your business you track separately. Default is ALL. Click to restrict search to invoices tied to specific BUs (see Lookup panel). BUs are set in Business Units.

3. Click . RB9 lists all of the open invoices that meet the specified search condition(s).
4. To clear finance charges for:

   • All invoices

     Click Clear > All invoices.

   • Specific invoice(s)

     Check the box(es) of the invoice(s) you want to clear finance charges for.

     Click Clear > Only checked invoices.

5. When RB9 finishes clearing the charges, it adds the removed charge(s) in the results pane and an Operation Successful box appears. Click OK.

NOTE: Cleared finance charges are not deleted

RB9 does not actually zero out the finance charge for each cleared invoice. It creates an entry in the InvoicesFCLog table with a negative amount for the finance charge so that you will have an audit trail.

Reference

• Date Navigator
• Lookup panel
• Business Units

Step-by-step instructions

• Looking up firms
• Generating finance charges
• Printing finance charges reports