Tip #021 – Zero Payments (Cont.)


Tip #021
Zero Payments (Cont.)

To find out what accounts have transactions with negative balances; you can hit F9 while in the account number field. After you do that, you can press F8 to display a list of accounts with credit balance transactions and select from that list.

WARNING!

Even though flowerSoft will display the accounts with credit balance transactions, that does not mean that the account itself has a balance larger than the credit balance transaction. In other words, someone can have $-50.00 credit balance transaction and only have a $25.00 outstanding balance in an invoice.

Remember that you should not apply “zero” payments to accounts that don’t have enough debit balance transactions to offset the credit balances.

The bottom line is this, after applying a “zero” payment, the account should have no balance or a positive outstanding balance.

The reason almost always is that they either forgot to run the :Calculate Finance Changes” option or they thought they did not have to because they do not charge their customers a finance charge.

You MUST run the “Calc. Finance/Re-Billing Charges” option found in the Pre-Statement Account Maintenance menu even if you do not charge finance or re-billing charges.

If you fail to do this, accounts that owe you money from a previous month, that had no transactions for the current month WILL NOT receive a statement!Tip #022

Finance/Re-Billing Charges

At least once a month I get a call from some flowerSoft user complaining that not all the accounts that should have gotten a statement got one.

The reason almost always is that they either forgot to run the “Calculate Finance Changes” option or they thought they did not have to because they do not charge their customers a finance charge.

You MUST run the “Calc. Finance/Re-Billing Charges” option found in the Pre-Statement Account Maintenance menu even if you do not charge finance or re-billing charges.

If you fail to do this, accounts that owe you money from a previous month that had no transactions for the current month WILL NOT receive a statement!

 

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