In order for Tabs3 to calculate and charge a finance charge, the following conditions must be met:

  1. The Assess Finance Charge check box on the Rates tab in Tabs3 Customization must be selected and the Finance Charge Rate(s) must be specified.
  2. The Assess Finance Charge check box on the Billing Options tab in the Client file must be selected.

Note: If the Statement Type option for the statement template is set to Invoice Format and the Print finance charge on invoice format statements check box on the Options tab of Statement Customization is cleared, then finance charge will not be printed on the invoice. However, finance charges are still accrued and processed (i.e., the accounts receivable information is updated) when the Invoice format is used.