Activant Prophet 21

Finance Charges, Customer Statements, and Customer Master Inquiry

Utilizing Customer Account Management Tools Course 2 of 2

This class is designed for…

Account Receivable personnel in charge of managing customer credit and overdue invoices

Objectives

Generate finance charges on overdue invoicesGenerate Customer StatementsNavigate Customer Master Inquiry

This course will NOT cover…

Cash Collections Invoice Generation Cash Receipts AR Trial Balance

Generate Finance Charges

Define customers eligible for finance chargesIndicate finance charge percentages and minimumsCompound charges if necessary

Generate Finance Charges

Setup > System > Company Maintenance > Accounts Receivable tab

Finance Charges

Setup > System > Company Maintenance| Finance Charges tab

Finance Charge Description

Setup > System > System Settings >Accounts Receivable > General

Setting Up Customers

Accounting > A/R > Maintenance > Customer Maintenance > Finance Charges tab

Finance Charge Cycles

Used when Generating Finance ChargesMonthly, Quarterly, Yearly

Set up in Accounting > Accounts Receivable > System > Finance Charge Cycle Maintenance

Generate Finance Charges

Accounting > A/R > Transaction > Generate Finance Charges

Generate Finance Charges

Click the “Retrieve this query” button to retrieve results

Generate Finance Charges

View past due amounts, calculated finance charges, and view credits applied.

When are invoices eligible for finance charges?

Past due invoices based on net due dateImpacted by Grace Days

Finance charge calculated per invoice

Generate Finance Charges

Finance Charges will be generated for all customers where the “Save Finance Charge”checkbox is checked.

Generate Finance Charges

View details for outstanding invoices eligible for finance charges

Generate Finance Charges

View how credits apply to outstanding invoices

Customer Statements

No one likes an unpaid invoice!

Provide your customers with statements that show which invoices are unpaid.

Set up Customers

Accounting > A/R > Maintenance > Customer Maintenance

Open Item/Balance Forward

Open ItemStatement lists each open invoiceInvoice Date sequence

Balance ForwardSimilar to a credit card statementDisplays beginning balance (balance from last statement), activity on the account since last statement and current balance

Generate Customer Statements

Generate Customer Statements

Generate Customer Statements

Generate Customer Statements

Click the “Retrieve this query” button to view customers eligible for statement creation

Generate Customer Statements

To generate a statement for the corresponding customer ID leave the checkmark under the Print Statement column

Generate Customer Statements

Statement Selection tab – RMB options

Customer selection

Modify the display of customers

Generate Customer Statements

Generate selected statements: PrintFaxEmail

Balance Forward Statements

Assign balance forward at customer creationConvert customer to Balance Forward

Convert Customers to Balance Forward

Accounts Receivable > Transaction > Convert Customers to Balance Forward

Convert Customers to Balance Forward

Accounts Receivable > Transaction > Convert Customers to Balance Forward

Convert Customers to Balance Forward

Accounts Receivable > Transaction > Convert Customers to Balance Forward

Balance Forward Statements

Customer Statement Date InquiryAR > Inquire > Customer Statement Date Inquiry

Balance Forward Statements

Customer Statement Date Inquiry

Reprint Balance Forward Statements

Balance forward statements must be reprinted

Customer Master Inquiry

Customer Master Inquiry

Customer Maintenance

Physical Address

Custom Columns

Ship To/Sales Rep

Sales Pricing

Financial Information

Invoices

Payment

Credit Mgmt

CashCollection

Contact Maintenance

Tasks

Territories

Contacts Report

Customer Master Inquiry

AccessibilityHotkey - F8Right Mouse Buttonanywhere Customer ID field is present

Customer Master Inquiry

Credit History Tab

Customer Master Inquiry

Payments History Tab

Published Solutions

Solution 3798 – Can I Print Preview Customer StatementsSolution 3193 – Compounding Finance ChargesSolution 2172 – How Finance Charges are Calculated482 – How to Setup Finance Charges2967 – Troubleshooting Finance Charge Calculations

Summary

Generate finance charges on overdue invoicesGenerate Customer StatementsNavigate Customer Master Inquiry

For More Information…

Prophet 21 Help FilesVisit Activant on the web: http://distribution.activant.com/

View Educational Services course offeringsBrowse DocumentationSearch the Solutions databaseSubmit a Support case

E-mail Professional Services Salespss@activant.com

Customer Account Management Tools

Utilizing Customer Account Management Tools: Credit Management

Assign Credit Limits to CustomersValidate customer orders on credit holdCreate and assign credit statuses to customersUpdating customer credit statusesSet up alerts for orders on hold