Question:
What are the differences between an open item customer and a balance
forward customer
Answer:
The open item option will keep all invoices showing on the aging
report until they are paid. When a purge open items is performed,
only the items with a $ 0.00 amount remaining will be removed. When
invoices are entered the terms codes are attached at that time so
finance charges can begin to accrue. The balance forward option will
show all invoices until a purge open items is performed. When purge
open items is performed, the system will add the amounts remaining
on all items dated up to the cutoff date and put that amount on a
balance forward item. The terms code will be attached to that
balance forward item. The open items up to the cutoff date will be
removed.
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