HOME SPIRE BV HELP ADD-ONS CONTACT
 
BUSINESSVISION
Future of BV
End of BV FAQ
BV HELP
 
SPIRE
Spire HELP
Spire FAQ
BV Essentials
 
ADD-ON APPS
 
Traverse
 
Technology
The Cloud
 
Downloads
 
Custom
Application
Development
 
TeamViewer
 
Privacy Policy
 
 

Wildwood Canada BusinessVision Help

A/R Finance Charges

 
BusinessVision has the capability to assess finance charges on overdue Accounts Receivable. This function uses some little-known rules outlined below.

This function is accessed from within Accounts Receivable by clicking on the Finance Charges icon.

 

The following screen appears where you can select Customer From-To. Fill in the fields and click OK.

 

RULES FOR FINANCE CHARGES
This function adheres to some little-known rules, as follows:

  • The Finance Charges function uses the first aging period, as per System Setup, Customer, Accounts Receivable (eg, 30 days) to determine which items to calculate finance charges on
  • It uses the interest rate as per System Setup, Customer, Accounts Receivable (eg 1.25%) - remember this is the MONTHLY RATE (NOT annual)
  • But it ALWAYS calculates 30 days of interest no matter what the first aging period is in System Setup, no matter how old the o/s balances are, and no matter when Finance Charges were last run.
  • Finance charges are applied to all o/s balances that are >= than the first aging period old (for example, 30 days and older)
  • The Finance Charges function does not keep track of when, if, or for which Customers it has been run. So it can be run more than once for the same customer at the same date. It will calculate new additional Finance Charges every time.
  • Therefore it is up to you to manage when and how often you run this function.
  • There is no way to reverse the Finance Charges if you run them by mistake, other than by creating a Credit Memo within each customer to reverse them.
  • Customers on Hold: You cannot enter them into the From-To selection in this function. BUT if a Customer on Hold is included within the From-To range, Finance Charges WILL be calculated for that Customer.
 
Wildwood Survival
Wildwood Tracking
Stone Age Skills
Tracking Quiz
Tracker Trail
 
Ontario Wildflowers
Ontario Trees & Shrubs
Ontario Ferns
Ontario Grasses
Grey-Bruce Wildflowers
World of Mosses
Ontario Insects
James Bay Road
Route de la Baie James
Rupert River
Trans-Labrador Hwy
Moped Trip
 
Wildwood Canada
Mumart
Wild Ontario
Earth Caretaker
Wildwood Trackers
Ontario Trackers
Orangeville Trackers

The material on this page is copyright by Wildwood Canada Inc.