Statement Cycle Setup / Inquiry Maintenance
This lesson will go thru the steps for Statement Cycle Setup / Inquiry Maintenance.
1) Statement Cycle: 1-9 ( When reporting selecting a statment cycle of 0 means print upon request in the report as opposed to using the presetup 1-9 statement cycles)
2) Statement Format: A= wide size statement B= narrow size statement
3) Statement Day: Days in cycle ex. 30
4) Print Message on Statement: Will print the message at end of statement from file stmnote.X where X is the statement number 1-9. You can manually add file or use the Message button in screen to add/edit/delete message file.
5) Age By Transaction Date: Ages by the actual date opposed to using the period assigned the transaction entries.
6) Calculate Late Charges: To use the Finance Charges section to calculate finance charges.
7) Finance Method (A,O): A=Average Daily Balance O=Open Balance
8) Rate (APR): finance rate
9) Min Days Late: Minimum days late for adding charge.
10) Min Pay: Minimum payment
11) AR Account: Chart of accounts account for AR entries
12) Fin Chg. Account: Chart of accounts account for Finance charge recording
13) Balance Over: Balance exceeds this apply different Rate
14) Rate (APR): Rate when exceeding Balance Over amount
14) Min Charge: Minimum charge. I think this applies to 9).
15) Last Fin. Chg: Last Finance Charge Date
16) Int. Free Bal: Interest Free Balance
17) Short Form: ?? Shorter format (A or B or both I'm not sure about)
18) Weekly: Checked=Weekly statements. Statement Days should be set to 7.
19) SemiMonthly: Checked=SemiMonthly statements