Finance charge memo lines are the part of a finance charge memo that contain the calculated interest amounts. The lines also contain information (such as document number, due date and remaining amount) about the outstanding amounts that interest is to be calculated on.
A finance charge memo is a document you use to inform a customer that the outstanding balance is increased by an interest amount.
A finance charge memo is composed of a finance charge memo header and a number of finance charge memo lines. The finance charge memo header contains information about the customer such as name, address and finance charge terms. It also contains information about the finance charge memo such as the document date and due date. The program retrieves most of this information from the Customer and Finance Charge Terms tables.
The finance charge facilities in Navision are based on the core data for each customer. They offer you extensive options, such as applying a number of predefined text options, flexible interest rates and other fees when creating finance charge memos for your customers. You can also choose whether or not interest and/or fees should be posted to the relevant G/L and customer accounts when the finance charge memo is issued.
Finance charge memos can be created automatically with the Create Finance Charge Memos batch job. This batch job creates one finance charge memo per currency for which there are customer ledger entries on which interested is calculated.
To create a new finance charge memo manually, start in the finance charge memo header, and then use the Suggest Fin. Charge Memo Lines batch job.
After you have completed the finance charge memo header and the associated lines, you must issue the memo.