RB User Guide > Receivables > Finance Charges > Generating finance charges
Generating finance charges automatically
If you have set up finance charge rates in clients’ firm records, you can have RB9 automatically generate a finance charge for each invoice that is more than 30 days old, if it has been more than 28 days since you performed this task last. RB9 will generate the charge by multiplying the invoice’s current balance by the firm’s finance charge percentage rate, if it has been more than 28 days since you performed this task last.
Continued from Generating finance charges.
- In the Generate Finance Charges by Auto window, all firms with invoices more than 30 days old appear. Make selections in Search By pane if you want to limit the search:
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Bill To Firm
To assess finance charges for a particular client, click 
. See Looking up firms. Otherwise, leave blank to generate finance charges for all clients.
-
Invoice No.
Enter the invoice number to generate 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.
- Click
. RB9 lists all of the open invoices that meet the specified search condition(s).
- To assess finance charges for:
-
All invoices
Click Generate > All invoices.
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Specific invoice(s)
Check the box(es) of the invoice(s) you want to generate finance charges for.
Click Generate > Only checked invoices.
- When RB9 finishes generating the charges, it removes the invoice(s) from the results pane and an Operation Successful box appears. Click OK.
IMPORTANT: Firms must have finance charge rates
Open invoices belonging to firms that have a “0.000” finance charge rate specified in their firm records will not be displayed and won’t be assessed finance changes.
Reference
Step-by-step instructions