Prepare Statements

Use this process to prepare customer statements before printing by:

Calculating overdue interest.
Calculating statement discounts.

Calculate Overdue Interest

Select this option to calculate the overdue interest on customer accounts. Interest is charged using the interest code assigned to each customer on the Customer Defaults form, and the balance outstanding using the selected calendar's current posting period.

An invoice line is generated only if the calculated interest exceeds the minimum interest charge specified on the Accounts Receivable Module Control form. When the calculation is complete, a batch of invoices is created (the batch number displays when the process is complete) based on the posting date entered into the process parameters.

The invoice numbers are automatically-generated using the last system invoice number. You can print invoices and a Batch Edit Listing when you complete the process.

Options Reference

Each option and field on the form is described below. Mandatory options and fields are highlighted in red.

Calendar

Select the calendar to use for the process run. Interest is calculated for customers who use the calendar selected here.

Interest is calculated using the customer's outstanding balance as at the current posting period for this calendar.

Posting date

The default value is the current date, but you can change it. This is the date that generated invoices post to the general ledger.

Period end

This is the period end date of the period in which the posting date falls in the selected calendar.

This field is read only.

Post to

You can select the option to post the interest to a non-stock analysis code, or to a general ledger account. Depending on the option selected, you must provide this additional detail:

Non-Stock Code

Select the non-stock code from one set up on the AR Non Stock Code Maintenance form. The general ledger account to be updated with the transaction is determined from the non-stock code.

GL Account

Select the general ledger account to update with the transaction, and enter a subcode.

Narration

Enter a narration if required, which defaults to the automatically-generated invoice lines, up to 75 characters. Options associated with the narration include:

Append to header only - Print as part of the header narration only for statements generated.
Append to line item only - Print as the line item narration only for statements generated.
Append to both - Print as part of both the header and the line item narration for statements generated.

Click Calculate Overdue Interest at the base of the form to run the process.

Calculate Statement Discount

Select this option to calculate customer statement discounts before printing statements. The calculation uses the customer's current balance and the statement discount % assigned on the Customer Defaults form. The statement discount prints on the footer of the AR Statement report.

Calendar

Select the calendar to use for the process run. Discounts are only calculated for customers who use the calendar selected here. The discount is calculated using the customer's current balance only. The from and to dates of the current period default in read-only format when the calendar is selected.

Click Calculate Discount at the base of the form to run the process.

When options to calculate overdue interest and calculate discounts are both selected, the forms presented above display in separate tabs in the main form.