Rice Lake TransAct 3.5 - Manual (Page 144)

Accounting Discounts and Account Flags
Version 3.5 145
Discounts and Account Flags
Use the Discounts and Account Flags table to setup discounts and finance charges for individual
customer accounts. Finance charges are applied when statements are generated. The Discounts and
Account Flags table can also be used for marking accounts as revoked, not invoiced, cash only, and tax
exempt.
NOTE: Marking accounts as revoked, not invoiced, cash only, and tax exempt can also be set in
Admin | Customer Accounts | Accounting Info .
To apply a discount to a customer, select Accounting | Discounts and Account Flags from the main
menu. The Customer Account Table appears.
Figure 130. Discounts Table (TransAct Plus)
To activate one of the five options, click the box next to the option. An ‘x’ in the option box indicates
the option is on. To turn the option off, click the option box again.
A finance charge is applied to any unpaid previous balance when statements are generated. When the
individual finance charge is 0.0000, the global finance charge will be applied. Any individual finance
charge greater than zero will override the global finance charge defined in the
Setup and Miscellaneous
Rates table.
To view general customer information such as account number, address, and default categories, click
the
General Info button.
NOTE: Accounting features such as previous balance, current balance, and the not invoiced check
box have been removed from TransAct and are only available for TransAct Plus.