RP 2 - Create Service Charges

Important Notes

• This option DOES NOT apply service charges to the accounts!

  It only creates a blank listing of service charges.

  Service charges are applied to accounts only with option 5 (Apply service charges to accounts)

Problems & Errors

1. If you field exit through the date the service charges will be created with a date of 00/00/00!
2. If you run this option more than once it will recreate the service charge file each time. Any changes (revisions) will need to be entered in a second time.

Screen 1 - Service Charge Initialization

• F3 - cancel and return to previous menu
• F6 - clear files and create a new service charge file. This is normally done every month.

Screen 2 - Service Charge Calculations

• Enter in the date to calculate service charges
  
  • You may need to adjust the date reach the 30 day service charge date.
  • For example if you charge service charges on a monthly basis rather than every 30 days you might need to put a date of 03/29/08 to charge all of February service charges or 01/30/08 to charge all of December.
• Enter your monthly interest rate charges
  
  • 1.00 = 12% annual
  • 1.5 = 18% annual
  • 2.0 = 24% annual
• Calculate service charges on service charges
  
  • Please note that it is illegal to charge service charges on service charges in some states. Check with your CPA and/or legal counsel if there is any doubt.
• Enter your minimum service charge. Any interest charges that are below the minimum will be raised to your minimum.
  
  • For example if you have a service charge of $.38 and your minimum charge is $1.00. They will receive a $1.00 service charge.
• Enter in the date to apply service charges. This is normally within a day or two of the statement date but it can be any date you select.
  
• Finally F8 to accept and continue or F3 to cancel operation

Screen 3 - Confirmation screen

• Press F6 to continue or F12 to cancel operation

Screen 4 - Final confirmation

• Press F6 to finish and create the new service charge listing.

Pitfalls that cause problems with statements | no date on service charges | duplicate service charges | Service charges were posted multiple times

Pitfalls

Date on service charges is 00/00/00

Cause

• The person creating service charges field exited through the service charge date in RP 2 (Create service charges).

Resolution

• Change the service charge date in ZU 19,1

Service charges were posted 2 or more times to the accounts

Cause

• The option RP 5 (Post Service Charges) was taken more than once.

Resolution

• Delete the duplicate service charges from the account ZU 19,1

IBS Lumber and Building Material Software Copyright © 2006 IBS Lumber Software Inc (TM)
Last modified: November 7, 2011

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