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I have a customer that is late in payments on more than one invoice. My terms are 30 days plus 3% monthly surcharge there after.
I can see the finance charges on the statement, but they are added as a whole of all invoices on the statement. There is no way of separating the finance charge to each individual invoice. When I goto receive payments, and the customer pays only one late invoice off the statement I have no idea what the finance charge would be, the only way to add the finance charge correctly is if the customer pays the total invoice amount at one time, which is unlikely in today's economy.
I suggest that along with finance charges being seen on the statement, one should be able to goto print/email invoices and see the charge that has accumulated for each individual invoice instead of just the collective invoices on a statement.
Or when one creates a statement separate the finance charge with each invoice and then create a total, so that the customer knows what each invoice is worth and the finance charge that it has accumulated instead of the collective amount at the bottom.
Ultimately it should be placed on each invoice so that myself and the customer know exactly what is owing, and so that I can receive the payment correctly in MYOB
Also to add to my above idea, as MYOB calculates the finance charge at 1/30th every day the invoice is over due, as it works on a 30 day set calculation figure, one needs to be able to see this on the out standing invoice.
so maybe instead of just having the finance charge as a total, when i print an invoice have the system automatically add the something like the following in nice red colour saying:
TOTAL DAYS OVERDUE (no of days) resulting in LATE FEE (accumulated charge depending on the days overdue)
Have something like this as a Feild available on the invoice if the operator has setup finance charges in the card file. i understand that not ever company uses late charges but if iyts setup in the card file for a certain customer it should be a feild on the invoice.
It would be really nice if I could see the finance charges in the Receive Payments window. At the moment the only way I can see the finance charge is if I print a statement.
And also, it would be great if you can print a statement for more than a month time frame, and the finance charge adds to the total outstanding, whereas currently it only adds to the total outstanding if it is for one month only. I realise that statements are only meant to be printed for a month, but if the finance charge is the same no matter how long the date range is, it should still add to the total as it is still outstanding.
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