Finance charges are interest or late fees assessed on customer accounts with overdue balances. If a customer questions why their balance is higher than their invoice total, or if you need to verify what charges have been applied to a specific account, the Finance Charges section gives you the detail you need organized by customer and by invoice.
Steps
1. Go to Finance Charges. Click Finance Charges in the left sidebar. You will land on the By Account tab.
2. Find the customer. The By Account tab shows a list of all customers who have had finance charges assessed on their account. Type the customer name in the search bar to filter the list, or scroll to find them.
đ¸ Screenshot suggestion: The Finance Charges By Account tab showing the customer list with columns for customer name, number of invoices charged, and total charges assessed.
3. Click the customer name. Click the customer to open their finance charge detail. A list of invoices appears showing which specific invoices had charges assessed, the invoice amount, the overdue balance the charge was calculated on, and the total charge for each invoice.
đ¸ Screenshot suggestion: The invoice list for a customer after drilling in from By Account, showing invoice number, invoice amount, balance charged on, and finance charge amount columns.
4. Click an invoice to see full charge detail. Click on any invoice row to open the charge detail panel. This shows two sections:
Invoice Summary â The invoice number, original amount, the balance that was overdue when the charge was calculated, and the due date
Charge Details â A table of every charge assessed against that invoice, including the date each charge was assessed, the rate applied, and the resulting dollar amount
An invoice can have more than one charge row if it has been overdue across multiple billing cycles.
đ¸ Screenshot suggestion: The finance charge detail modal showing the Invoice Summary card at the top and the Charge Details table below with at least two charge rows, each showing the assessed date, rate, and amount.
5. Review the calculations. Use the charge details to verify the math. The charge amount for each row should equal the overdue balance multiplied by the rate shown. If a charge appears incorrect, note the invoice number, the assessed date, and the charge amount before removing it.
Reviewing by Date Instead of by Customer
If you need to see all charges assessed during a specific period rather than for a specific customer, use the By Assessed Date tab instead.
1. Click the By Assessed Date tab. This view organizes all finance charges chronologically by the date they were assessed rather than by customer.
2. Use the As Of date control. Set the date range in the toolbar to limit the view to the period you want to review â for example, all charges assessed during the previous month.
đ¸ Screenshot suggestion: The By Assessed Date tab showing finance charges listed chronologically with customer name, invoice number, assessed date, and amount columns.
3. Cross-reference with the Ledger. The total of all charges in the By Assessed Date view for a given period should match the Finance Charges line item on the Ledger page for that same period. If the figures do not match, contact your administrator.
Common Situations
A customer is disputing a finance charge. Open the customer's detail from the By Account tab, find the invoice in question, and click through to the charge detail. You can show the customer the exact date the charge was assessed, the overdue balance it was calculated on, and the rate applied.
You need to report how much in finance charges was collected this month. Check the Total Charged KPI card at the top of the Finance Charges page for the period total. For a full breakdown, use the By Assessed Date tab with the date range set to the current month.
You suspect a charge was assessed on an account that should have been exempt. Find the customer on the By Account tab, open the invoice in question, and review the charge detail. If the charge should not have been assessed, see How to Remove a Finance Charge.