Overview

The Finance Charges allow charging customers when they are in arrears during a certain period of time. 

The first step is to enable the Finance Charges Setting. This setting can be enabled at company level (or per location, in the case of Multilocation Companies). The system allows the generation of Finance Charges either manually or automatically. If you enabled the automatic generation of Finance Charges, it will apply to all the customers; however, it is possible to make exceptions and apply a different charge (or none) to any specific customer in Customer Account "Advanced" Setup (exceptions per customer also apply to Finance Charges manually generated).

How does this work?

In the following example, we are going to set up the finance charges as follows by company level:

Please go to Setup>>Settings and click on Finance Charges. Enable the Finance Charges setting and choose how you want to generate Finance Charges.