Purchase payment applied incorrectly to finance charge

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Contributing Cover User TamPH
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Purchase payment applied incorrectly to finance charge

The finance charge has created huge problems in our system when an amount is accidentally entered into this field.  Particularly when an order has been converted to a sale and cannot be deleted.  I have taken out the link on this account to prompt my staff to amend their payment and take out this charge but this often still confuses them and creates headaches for me.  I would like to suggest that the finance charge be included as an option in preferences.  Unless a checkbox is ticked it is not possible to enter a value into this field.  I hope this inclusion is possible for future versions as it would save a great deal of trouble.

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Ultimate Partner ronatbas
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Re: Purchase payment applied incorrectly to finance charge

Finance charges are picked up in the Linked Accounts as 'I assess charges for late payment' - we routinely untick this link where we know the client does not apply charges.

 

Ron

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MYOB Moderator Liam_M
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Status changed to: Already in product

Thank you for your feedback TamPH. Finances charges can already only be entered if certain options in setup are ticked. To disable finance charges for sales go to setup and click linked accounts. Select sales accounts. Un-tick the option 'I asses charges for late payment.' To disable finance charges for purchases go to the setup menu and click linked accounts. Here click purchases accounts. Un-tick the option 'I pay charges for late payment.' With this options un-ticked AccountRight won't allow you to record finance charges without first changing these settings.
Kind Regards

Liam
MYOB Client Support
Contributing Cover User TamPH
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Re: Purchase payment applied incorrectly to finance charge

Thanks for your reply Liam.  I have already done this.  The problem arises when a salesperson places a value in the Finance charge field and the linked accounts screen appears.  Rather than "unticking" the box and removing the charge they go ahead and link the account to the first account that appears in the dropdown box or whatever random account they can find!  Regardless of how often I train the staff on this issue there is always someone who manages to mess things up rather than call me for help.  I guess it is more of a problem when we have 16 licenced users on our system.  A more reliable solution would certainly be helpful.

 

Thanks,

Tammie.

MYOB Moderator Matthew_W
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Re: Purchase payment applied incorrectly to finance charge

Hi Tammie, thank you for the update.

 

Having the feature require a setting changed and manually set to enable this part of the program is really the extent to which we can do to 'lock out' this process. Something you can do on your end however, if you staff are turning this feature on, is to remove their access to change linked accounts and as a result not be able to setup a linked account for and turn on Finance Charges.

To do this you just need to log into the User ID "Administrator" and select "Setup->Preferences->Security" and press the 'User ID's' button. From here you can select each User ID in your system and scroll through a list of features in the program. About 2/3 of the way down is the "Setup" section and one of the options here is "Linked Accounts" if you select this (which will put a X next to it) that User will no longer be able to access this feature.
I hope this process helps you keep the Finance Charge option disabled in your files.

Kinds Regards,
Matthew - MYOB Client Support


Kind regards,

Matthew
MYOB Client Support

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Contributing Cover User TamPH
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Re: Purchase payment applied incorrectly to finance charge

Thanks Matthew.  I will certainly remove this feature for all my sales staff.  I just had another one this morning untick all the linked accounts and re-allocate different accounts!  Can you just imagine the mess if I had not been made aware of this!  Your solution sounds like a great idea.

 

Tammie.

Former Staff JasonHill
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Re: Purchase payment applied incorrectly to finance charge

Great, glad we were able to help Tammie.

 

Please let us know if you ever need any assistance with your software.

 

All the best,

Jason Hill
Community Manager

Partner Lexie32
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Re: Purchase payment applied incorrectly to finance charge

Hi Forum

 

Does anyone know why I still have the Finance Charge appearing in Pay Bills and Receive Payments when I have set up my preferences correctly?

 

"I pay Charges for Late Payment" is NOT ticked in my Sales or Purchases Linked Accounts preferences...........

 

Many thanks

Lexie

MYOB Moderator Steven_M
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Re: Purchase payment applied incorrectly to finance charge

Hi @Lexie32

 

When you go to Sales>>Receive Payments the option for including a finance charge will always be there i.e. the box in the bottom right will always show. You can go to Setup>>Linked Accounts>>Sales Account and untick the option for "I assess charges for late payment". By checking this option it will not remove that box from the window, it will just mean that if you were to have an amount go into that field it will prompt the user to select a linked account for that option. This does mean that if you do get that prompt you can address the situation and possibly remove the amount from that field if required.

The same is true for Purchases>>Pay Bills and the "I pay charges for late payment.

Kind regards,
Steven

MYOB Community Support

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Partner Lexie32
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Re: Purchase payment applied incorrectly to finance charge

Thanks very much Steven, I suspected as much.

Smiley Happy

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