OVERVIEW
The Service Charge Codes table provides the ability to establish specific delinquent service charge percents to apply to account statements. This enables the user to set the delinquent service charge percent and time period to start incurring the service charge for each account.
Once the codes have been added to the table, they can be assigned to the individual accounts via the account record. Apply a delinquent service charge code to an account by selecting the applicable code in the Charge Code field in the Accounts Record / Accounting tab.
SETUP PROCESS
Access the Service Charge Codes table by clicking:
TOOLS | SYSTEM TABLES | SERVICE CHARGE CODES
Charge Code: Enter a unique alphanumeric Code up to 3-digits long and press Enter.
Description: Enter a description of the Service Charges Code.
For example, Description = 90-days. In this example, a service charge will be applied to the statement when the statement is not paid within 90 days.
Aging Field: Select the aging field at which to start incurring a service charge.
For example, selecting the Aging Field 31 To 60 will consider the account delinquent when an outstanding balance appears at 31 days or later.
Monthly Percent: Enter the percent of the outstanding balance that will be added to the statement as a delinquent service charge. Note: Enter the value 0.00 to not have a delinquent service fee applied to an account statement.
Yearly Percent: Once a record is saved, the system will calculate and display the yearly service charge percent.