To post accounts receivable payments to the ledger, some information must be entered on the Accounting Setup window. A receivables asset must be defined. If you want to charge finance charges, you can enter the rate and income account for the finance charge.
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Go to Program → Accounting → Accounting Setup.
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Click the Accounts Receivable tab.
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To edit this window, click Change.
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From here you can determine the service charge percentage for overdue invoices.
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The default accounts you want this posted to.
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Invoice Defaults.
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And Customer Defaults.
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After making your selections, click Save.
