Tip #070 – Calculating Finance/Re-Billing Charges


Tip #070
Calculate Finance/Re-Billing Charges

Every month I get at least one call asking why didn’t all the accounts that owe money get a statement.  99% of the time is because the florist forgot to calculate the finance/re-billing charges for the month.

Why is that a requirement, even if you do not impose finance/re-billing charges on your late accounts?

The answer is because one of the options that flowerSoft asks you when generating statements is

so, if an account owes you money from a prior month, and they do not male a payment during the month covered by the statement, they will not have activity for the month!  Therefore, a statement will not be generated.

When you run finance/re-billing charges, even if your interest rate is 0%, flowerSoft will create activity for the month for all the accounts with outstanding balances.

There are some other conditions where flowerSoft will not print a statement, such as for confidential accounts, active zero balance accounts (meaning that the account had activity during the month but their balance is still zero, like when the make a purchase and they also pay for it before the closing date of the statement), credit balance accounts, etc.  But most of the time it is because finance/re-billing charges were not calculated.

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