Dunning letter - post interest to BP

[keith_taylor2]

We have created dunning letters which calculate the interest correctly, however I thought that SAP either posted this interest amount to the account or generated an invoice for the amount.

Is there any way to have the interest amount post automatically. Did we miss a setup or something.

[keith_taylor2]

Not the answer I wanted to hear as this will really put a burden on clients who want to charge interest

[Former Member]

Keith,

We created an Add-On to calculate Finance Charges based on the Dunning Setup and then actually create the Finance Charge Invoice.

Most Quickbooks and Peachtree users who are converting to SBO would simply expect this feature to be in the product, because it is in every US based product.

We coach people to take a serious look at how many Finance Charge Invoices they had to write off in their old system, when we introduce Dunning. For most of our clients, they determine that they write off roughly 60% or more, so we recommend that they use Dunning to show customers finance charges, but not create the actual Invoice until it is paid (rather than create all finance charge invoices and then Credit Memo more than half of them.

This works for some and not others, obviously.

The Add-On will be ready in a couple months if you are interested.

Brad Windecker

[Former Member]

Hi Keith

I have not checked on the latest version, but SAP does not post the interest. It only reports on it, so you will need to manually create the entries based on the report. The only posting the system does do is the bad debts as far as I can recall.

Kind regards

Peter Juby