Customer Interest Proposals—Key Exercises

IMPORTANT
It is extremely important that you set up and work within your own company and with your own customer to maintain your data integrity. If you work with any other objects, your exercises will not function as intended and the data of other students might be affected. Predictable exercise results require that your data is isolated in your own company.

Basic Data Setup

Interest Template

Purpose: The purpose of this exercise is to show you how to create an interest template.

Windows:
Interest Templates

  1. Create a new record.
  2. Enter the following information in the header:
Template ID Description Calculate Interest Default Template for Customer
2 Interest Template No

Select

Select
  1. Enter the following information under Interest Calculation Terms:
Interest Method Min Interest Amount Min Interest Amount Total Payment Terms on Invoice Accepted Delay
When fully paid 10 30 10 5
  1. Create a new row in the table portion of the window. Then enter the data below to complete the new template.
Valid From Interest Rate
Today's date 20

    5.    Save your changes.

Company Basic Data for Interest Proposal
 

Purpose: The purpose of this exercise is to set up the company parameters that will be used in interest proposals.

Windows:
Company

  1. Open the Company window.
  2. Query for your company.
  3. Click the Payment tab.
  4. In the Interest Invoicing Parameters section, enter the following information.
Interest Invoices Post Interest
Invoices Separately		 Document Type
INTRINV Selected Invoice
  1. Save your changes.

Message Texts
 

Purpose: The purpose of this exercise is to define texts which will be printed in the interest invoice or note, and in the credit interest invoice or note.

Windows:
Message Texts

  1. Open the Message Texts window.
  2. Click New to create a new message text.
  3. Select the Interest Invoice/Note document type from the list and enter a description about the document type and a text message about the error.
  4. Click New again to create another message text.
  5. Select the Credit Interest Invoice/Note document type from the list, enter a description and a text:
Document Type Description Text
Interest Invoice/Note Interest Invoice Due to payment delays we are forced to charge you the default interest payment. Below you will find details of the calculation. If further clarification is necessary, please contact the person stated in this document.
Credit Interest Invoice/Note Credit Interest Invoice As agreed we are crediting the following default interest amounts.
  1. Save your changes.
  2. right click and click Translation Message Text to translate the message text to another language.
  3. The Company Translation Attributes window appears.
  4. Click New to create a translation for the interest invoice message text.
  5. Using the List of Values in the Translation Key field, select the translation key INTINV^MESSAGE_TEXT.
  6. In the Language Code field, select the needed language code from the list of values and enter the translation in the Current Translation field. 
  7. Click New again to create the translation for the credit interest invoice message text.
  8. Using the List of Values in the Translation Key field, select the translation key CREINTINV^MESSAGE_TEXT.
  9. In the Language Code field, select the needed language code from the List of Values and enter the translation in the Current Translation field.
  10. Save your changes.

Required Data

Enter Customer Invoice

Purpose: The purpose of this exercise is to show you how to enter the customer invoices that will be used in the exercises below.

  1. Enter three invoices on your customer.
  2. Post and save the invoices. The due date for these invoices/installments should be in the past. Make sure that the due dates are different.

General Exercises for Manual Customer Invoicing using VAT
General Exercises for Manual Customer Invoicing using Sales Tax

Enter Customer Payment

Purpose: The purpose of this exercise is to pay the invoices that were previously entered. They will be used for interest calculation purposes in the exercises below.

  1. Pay all your invoices.

  2. Use today's date as the payment date.

General Exercises for Manual Customer Payment

Main Exercise

Purpose: The purpose with this exercise is to create an interest proposal, and learn how to approve and process the proposal.

Windows:
Customer Interest Proposals

Create Interest Proposal


Purpose: The purpose of this exercise is to show you how to create an interest proposal and view included customer invoices.

Windows:
Customer Interest Proposals

  1. Open the Customer Interest Proposals window.
  2. Right-click and then click Create Proposal. The Create Interest Proposal window appears. The user ID, create date, and interest calculation date appear automatically in this window.
  3. In the Interest Calculation Date field, enter the date that is 10 days from today.
  4. In the Currency field, use the List of Values to choose the accounting currency.
  5. In the Interest Template field, use the List of Values to choose template 1.
  6. Select the Customer, Customer Group, Payer or AR Contact option. 
  7. Select a value for the From field using the List of Values.
  8. Select a value for the To field using the List of Values.
  9. Click OK. The interest proposal is created.
  10. Select the proposal line, right-click and then click Interest Proposal Details to view the included customers.
  11. Select the line with your customer, right-click and then click Invoices per Proposal to see the included invoices/instalments.

Print Interest Proposal
 

Purpose: The purpose of this exercise is to show you how to print an interest proposal and view the included customer invoices/installments.

Windows:
Customer Interest Proposals

  1. Open the Customer Interest Proposals window.

  2. Query for the interest proposal you created.

  3. Right-click and then click Print Proposal.

Acknowledge Interest Proposal


Purpose: The purpose of this exercise is to show you how to acknowledge an interest proposal.

Windows:
Customer Interest Proposals

  1. Open the Customer Interest Proposals window.

  2. Query for the interest proposal you created.

  3. Right-click and then click Acknowledge Proposal.

  4. The status of the interest proposal changes to Acknowledged.

Print Interest Invoice/Note


Purpose: The purpose of this exercise is to show you how to print interest invoices or notes.

Windows:
Customer Interest Proposals

Archived Reports

  1. Open the Customer Interest Proposals window.

  2. Query for the interest proposal you created.

  3. Right-click and then click Print Interest Invoices/Notes. 

  4. A window appears where you can enter the invoice/note date and references. Enter your name in the Your Reference field and click OK.

  5. The interest invoice will be placed in the report archive, and must be printed from there.

  6. Open the Report Archive window and populate. Select the line with your interest invoice, right-click, and then click Print.

  7. Click Preview to view your interest invoice and Print to get a paper copy.

Note:  The result is that interest invoices are created and the proposal being removed from the Customer Interest Proposals window. If the Post Interest Invoices Separately check box is not selected in the Company window, then postings will also be created during this process.

The interest document will be printed as an invoice, as document type is selected as Invoice in the Company window.

Post Interest Invoice/Note


Purpose: The purpose of this exercise is to show you how to post interest invoices or notes.

Windows:
Customer Interest Invoices/Notes

  1. Open the Customer Interest Invoices/Notes window.

  2. Query for the interest invoice you printed.

  3. Right-click and then click Post Interest Invoice/Note. 

  4. Modify the voucher date for which the postings should be created if required and click OK.

Create Credit Invoice/Note and Offset with Debit
 

Purpose: The purpose of this exercise is to show you how to cancel an already created interest invoice/note and offset with the debit interest invoice/note.

Windows:
Customer Interest Invoices/Notes

  1. Open the Customer Interest Invoices/Notes window.

  2. Query for the interest invoice you posted.

  3. Right-click and then click Create Credit Invoice/Note and Offset with Debit.

  4. Modify the voucher date for which the postings for the credit interest invoice/note should be created (if required).

  5. Click OK to print and post the credit invoice/note and open the Customer Offset window. You can offset the credit invoice/note with the debit invoice/note by using this window.

  6. Use the Customer Interest Invoices/Notes window to view details about the created credit interest invoice/note.