If your dealership will charge late fees on AR amounts, you can use the Process Late Fees tool to add a percentage to the total due.
Set Entity Balances to Charge Late Fees
- Open the CRM - Sales Quoting module.
- Search for the entity who you wish to charge and open their profile.
- Select the AR Info tab.
- Check the Late Fees box for the account or accounts for the fees you want to process.
- Save the entity record.
Process Late Fees
- Open the Accounting module.
- Choose the Process Late Fees option from the Quick Links menu on the left side of the screen. This will open a popup window.
- Choose the company location where you want to charge late fees.
- Enter the late fee APR percentage.
- Click the Create Transactions button. This will open the accounting transaction that shows the late fees applied.
- Click the Save button on the transaction.
- You may now exit the transaction by clicking the X in the upper right.