Statements / Finance Charges

Navigation: From the Setup Entry menu, select the System Settings button. Then click the Statements / Finance Charges tab.

Statements are a useful resource for reminding account customers of their current balance. When you print these Statements you have the option of creating finance charges. On this tab you can set rules for your Statements and Finance charges.

Statement Settings

• Close the Statement Period on What Day of the Month? Use the drop down box here to select the day that you would prefer your statement periods to normally end.
• Print the Workorder Number on the Statements? Each invoice has a unique workorder number associated with it, which is different from the invoice number. If you would like this number to be printed on your statements, check the box.
• Use Future Due when Aging: This is generally only used if your customers have terms like Net 60 or Net 90. This adds another column to the Statement and Aging Reports called Future Due, so that you customers can see how much of the statement total is not yet due.
• Age Each Store Separately Rather Than Consolidating Statements (Multistore)? By default AutoFluent is set to age all stores at the same time when a Customer Statements report is run however, checking this box will allow you to age each store separately. With this box checked, you customers will get separate statements for each store they did business in, and each statement would show activity and a balance due for that particular store only. With it unchecked, your customers will get one consolidated statement, showing the activity at all the stores.

Finance Charge Settings

• Annual Percentage Rate: What interest rate do you want to use when charging finance charges for overdue accounts?
• Minimum Charge: What is the minimum fee you want to charge when charging finance charges for overdue accounts?
• Terms for the Finances Charge: When the Finance Charges are created, what terms do you want to put on them? (It is usually Net 30.)
• For Accounts How Far Behind? When creating finance charges, create them for Customers who are at least how far behind in their payments?

Statement Messages

Here you can have your statement messages vary according to how far past due your customers are. If these are blank, or if their balance is current, the Statement Message from the Sales Category window will be used instead.

*There are options to print or email customer statements; if you’d like to mail them it is recommended to use #9 double window envelopes for best results.