Finance Table Maintenance

Use Finance Table Maintenance to maintain the information necessary to calculate finance charges for customers. This provides a flexible method to assess different finance charge rates for different types of customers as you can maintain multiple finance charge rates. For example, you can maintain a F/C rate to charge customers who have balances that are less than 90 days overdue and you can maintain another F/C rate to charge customers who have balances that are over 120 days late. To generate the finance charge transactions you can assign a finance charge rate to a transaction code by assigning the appropriate Finance ID.

Notes:

Generally, there are two ways of setting up finance charge rates. You can maintain a single universal rate for the service during Service Finance Settings Maintenance or multiple rates using Finance Table Maintenance.

1. To maintain multiple F/C rates:

a. Create the finance tables for the different F/C rates you have.

b. Assign the Finance IDs to the transaction codes for generating customer finance charge transactions.

c. Create the Billing Finance Transaction Profile and assign the F/C transaction codes to it. The Billing Finance Transaction Profile is used to generate the customer F/C transactions.

d. Assign the Billing Finance Transaction Profile ID to the service during Service Finance Setting Maintenance.

2. To maintain a universal finance charge rate for each service you can use Service Finance Settings Maintenance and maintain the appropriate F/C fields.
Important: Using this method you can only maintain one finance charge interest rate for each service.

Do not confuse Finance tables with Finance periods. They are two separate programs and have separate functions.

Directions:

To open:

1. Click Daily Work from the menu.

2. Click File Maintenance.

3. Click Code Maintenance.

4. Click Miscellaneous Maintenance.

5. Click Finance Table Maintenance.

Tip: Or, use the keyboard shortcut: [ALT] [y] [m] [c] [i] [f].

Finance Table Maintenance Window Example:

Finance Table Maintenance Prompts
Finance ID	Enter the unique identification for the finance charge information and click Retrieve , or press [ENTER]. Keyboard shortcut: [ALT + t]. (5.0 numeric) To see all of the finance tables, click Search . From the Search list you can select the table to change or delete. Keyboard shortcut: [ALT + r] Tip: To indicate that you are building a new Finance Table, New displays near the Finance ID. Default entries display and the first field is highlighted to let you know you can begin entering information. Required
	To update the new or changed information, click Save or press [ENTER]. Keyboard shortcut: [ALT + s]
	CAUTION To avoid losing data, you must save new or changed records.
Title	Enter the title of the finance table. (up to 20 characters)
Description	Enter the full description of the finance table. (up to 40 characters)
F/C % Under Break Point	Enter the finance charge percentage to be assessed on overdue balances that are less than the F/C % Break Point dollar amount. (2.5 numeric) Required
F/C % Over Break Point	Enter the finance charge percentage to be assessed on overdue balances that are greater than the F/C % Break Point dollar amount. (2.5 numeric)
F/C % Break Point	Enter the dollar amount for overdue balances at which point the finance charge calculations change from using the F/C % under Break Point value to using the F/C % Over Break Point value. (6.5 numeric)
Minimum Basis Balance	Enter the minimum balance the customer must have to be assessed finance charges, if applicable. (7.2 numeric) Note: If you want to calculate credit finance charges, leave blank.
F/C Minimum Charge	Enter the minimum dollar amount of finance charge to use if the calculated finance charge is less than the F/C Minimum Break Point. (7.2 numeric)
F/C Minimum Break Point	Enter the Minimum Break Point dollar amount for finance charges. (6.5 numeric) Notes: If the calculated finance charge is less than the Minimum Break Point, then the customer is assessed the F/C Minimum Charge. If the overdue amount includes lien amounts, Edifice assesses the calculated finance charge amount regardless of the minimum break point.
Aging Group	Enter a defined Aging Group ID that identifies the customer age balances to consider for processing finance charges. (up to 5 characters) Required Notes: You must assign an Age Group ID to specify which customer age balances to consider for finance charges. To search for an Aging Group ID, click Search or press [CTRL + f]. To create a new Aging Group ID, click Fast Maintenance or press [CTRL + o].
Include Lien Cost	To include the Lien Cost amounts when calculating customer finance charges, select the box. To omit the Lien Cost amounts when calculating customer finance charges, de-select the box.
Include Lien Interest	To include the Lien Interest amounts when calculating customer finance charges, select the box. To omit the Lien Interest amounts when calculating customer finance charges, de-select the box.
Include Roll Cost	To include the Roll Cost amounts when calculating customer finance charges, select the box. To omit the Roll Cost amounts when calculating customer finance charges, de-select the box.
Include Roll Interest	To include the Roll Interest amounts when calculating customer finance charges, select the box. To omit the Roll Interest amounts when calculating customer finance charges, de-select the box.
Editing a finance table	CAUTION: To avoid losing data, you must save new or changed records. 1. To display the table to be changed, enter the Finance ID and click Retrieve , or press [ENTER]. Keyboard shortcut: [ALT + t] Tip: To look for the table, you can click Search to see a list of finance tables. 2. Enter the data changes. 3. To complete the edit process, click Save , or press [ENTER]. Keyboard shortcut: [ALT + s]
Deleting a Finance Table	1. To display the table to delete, enter the Finance ID and click Retrieve , or press [ENTER]. Keyboard shortcut: [ALT + t] Tip: To look for the table, you can click Search to see a list of finance tables. Click File from the menu, and next click Delete. Keyboard shortcut: [ALT] [f] [d] At the Delete prompt, click Proceed to delete the record, or click Cancel to escape from the delete routine. Example: Note: After you click Proceed, you will see the following message on the Status Bar.