Be sure to review System Options BEFORE closing periods or printing statements.
Setup for billing cycles and interest rates are contained in System Options.
Statement Options
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Generate Statement for Customers With Activity but a Negative Ending Balance
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Whether to generate a statement for a customer who did have activity in the period, but now has a negative balance. Make sure you comply with any legal requirements in your jurisdiction.
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Generate Statement for Customers With Activity but a Zero Ending Balance
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Whether to generate a statement for a customer who did have activity in the period, but now has a zero balance. Make sure you comply with any legal requirements in your jurisdiction.
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Process Account Statements as Separate Customers
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When set to TRUE, account statements will be processed separately for each customer.
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Show Date and Page Numbers on Statements
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Show Date and Page Number at the top of each statement page.
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Sort Statements By
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Option to Sort Statements by Customer Last Name or Customer Key.
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Statement Closing Date
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The day of the month for statement closing date (1-31). Will automatically use the last day of February if 29, 30, or 31 is selected.
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Statement Due Date Days After Statement End Date
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Due date calculated by adding this number of days to the statement end date.
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Statement Wording For Dates Outside the Current Period
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Wording used in override message and in statement footer when the dates do not conform to the posting dates. This field may not be blank.
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Statement Wording Interest
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Wording for interest and average balance. Ensure that your wording meets legal requirements.
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Statement Wording Minimum Amount Due
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Wording for minimum payment and due date. Ensure that your wording meets legal requirements.
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Statement Wording When House Account Balances Have Been Estimated
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When initially using the Aging function, indicates the wording to be used on statements that have been generated using an estimated balance. This will only be necessary until all estimated balances have been adjusted and verified.
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Statement Wording When Running Without Closing
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Wording used in the override message and in the statement footer when the statement has been printed before closing the current period. This field may not be blank.
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Store Charge Options
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Calculate Minimum Due Percent Before Finance Charge
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True = Calculate minimum due by taking the balance forward (before finance charge) multiplied by the Minimum Payment Due Percent/Threshold Percent, then add the finance charge and past due amounts.
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Everybody Can Charge
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Set this to True to allow all customers to use a store charge or house account. Set this to False to check if the customer is set up for a store charge or house account before allowing it at POS.
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Number of Interest Free Periods
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Set this to True to allow all customers to use a store charge or house account. Set this to False to check if the customer is set up for a store charge or house account before allowing it at POS.
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Store Charge Account Balance Threshold Dollar Amount
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Waive current month finance charge if payment on Store Charge account balance is at least this dollar amount
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Store Charge Account Balance Threshold Interest Waived Message
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Show Store Charge Account Balance Threshold Interest Waived Message on Statements
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Store Charge Account Balance Threshold Percentage
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Credit last monthly finance charge if payment on Store Charge account balance is at least this percentage of the Store Charge balance.
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Store Charge Interest Rate – Percentage
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The interest rate to be charged on outstanding store charge balances as a percentage.
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Store Charge Minimum Fee – Dollar Amount
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Store charge minimum fee (finance charge) as a dollar amount. Note this only applies to store charge balances.
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Store Charge Minimum Payment Due – Dollar Amount
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The minimum payment expected on outstanding store charge balances, expressed as a flat dollar amount.
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Store Charge Minimum Payment Due – Percentage
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The minimum payment expected on outstanding store charge balances, expressed as a percentage of the outstanding balance.
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Waive Interest if Balance is Zero Anytime During Period
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Whether to charge interest on a store charge (house account) if the balance was zero at any time during the billing period.
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Waive Interest if Ending Balance is Zero
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Whether to charge interest if the balance was zero at the end of the billing cycle.
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Waive Interest if Starting Balance is Zero
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Whether to charge interest if the balance was zero at the beginning of the billing cycle. Also known as a grace period.
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Note: If both "Store Charge Minimum Payment Due - Percent" and "Store Charge Minimum Payment Due – Dollar" are specified, then the greater of the two calculations will be used. If the minimum payment calculation returns an amount higher than the outstanding balance, then the outstanding balance amount will be used as the minimum payment amount.
Wording Options
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House Account Wording
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What you wish to call the use of a house account or store charge.
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Customer-Specific Options
There are options in the Customer screen > Options tab that override some System Options pertaining to statements and aging:
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House Account Customer
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Overrides choices made in Everybody Can Charge.
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Never Send Statements
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Indicates that this customer should not receive statements as run in batches.
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Special Interest Rate
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Allows you to set an interest rate for just this account.
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Minimum Payment
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Allow you to set a minimum payment for just this account.
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Credit Limit
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Allows you to set a credit limit for just this account.
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