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            Initializing In-House Charge Accounts


To initialize the account of an in-house charge account, you want

to record the customersþ balance as they were at the beginning of

the current month. The Jewelry Shopkeeper screen to use is

Edit/Open Charge Accounts [8,1,4 from the Main Menu]


Typically you enter the opening balance in three places: the 0þ30

Days bin, the Initial Balance bin and the Opening Balance bin. If

you happen to know that the customerþs balance is over a month

old, you could enter the balance in the 30þ60 or 60þ90 or the

Over 90 bin as appropriate. Note that the Current bin should be

left as zero and that the total of Current + 0þ30 + 30þ60 + 60þ90

+ Over 90 equals the total balance but usually you start with

only one of these bins filled in. For credit balances use

negative numbers.


Fill in the current monthþs required payment in the Curr. Pmt.

Due: bin. Notice that this should not include any past due

amounts. Fill in any past due payments (required payments that

were not made in previous months) in the Past Due bins. When you

print statements, the Jewelry Shopkeeper will sum the Past Due

bins and the Curr. Pmt. Due bins and print this total as the

Minimum Payment.


In general you should leave the Special Primary Int Rate and the

Special Secondary Int Rate bins as zero; this way the customer

will receive the standard interest rate that you specify in the

Accounts Receivable Defaults screen. You should only fill in the

interest rate on the customer screen if this customer is

receiving a special interest rate that is different from the

standard store-wide interest rate. If this customer should never

have finance charges, choose No next to the question: Assess

Finance Charges.


If you choose Yes to Assess Late Charges, the customer will only

be charged late charges if the customer has missed minimum

payments and you have a late charge formula in the Accounts

Receivable Defaults screen.


If this customer has a fixed dollar-amount that he is required to

pay each month, you can fill in that amount in the Monthly

Payment Plan bin. By filling in an amount here, you are

designating this customer a Contract Account (or Installment)

Customer. If you leave this bin zero, then the customerþs minimum

required payment is calculated as a percentage of his outstanding

balance, where the percentage is specified on the Accounts

Receivable Defaults screen.



º  Last: Fernandez                     Mail to: Mr Fernandez                   º

º First: Martin                        Address: 9999 9th Ave                   º

º  Home:                 Ext              City: Los Angeles             St: CA º

º  Work:                                   Zip: 90034                          º


º          Current:       0.00           Special Primary Int Rate:  0.000      º

º      0 - 30 Days:     350.00     ³   Special Secondary Int Rate:  0.000      º

º     30 - 60 Days:       0.50     ³    Last Year Closing Balance:      0.00   º

º     60 - 90 Days:       0.50     ³                 Ytd Payments:      0.00   º

º     Over 90 Days:       0.00     ³          YTD Finance Charges:   10.00     º

º     Credit Limit:       0.00     ³      Current Finance Charges:   0.00      º

º   1 Mo. Past Due:     35.00      ³         Date Of Last Payment: 05/18/96    º

º   2 Mo. Past Due:      0.00      ³       Amount Of Last Payment:      0.00   º

º   3 Mo. Past Due:      0.00      ³             Previous Balance:      0.00   º

º   4 Mo. Past Due:      0.00      ³              Opening Balance:    350.00   º

º   Curr. Pmt. Due:     35.00      ³         Monthly Payment Plan:      0.00   º

º   Assess Finance Charges  Y      ³   Special Interest-Free Days:  0 30,60,90 º

º   Assess Late Charges     Y      ³           Remaining Payments:  0          º

º  Initial Balance:     350.00     ³         No Payment Due Until:   /  /      º

ºAvg Daily Balance:       0.00     ³        No Interest Due Until:   /  /      º