Rice Lake TransAct 5.0 - Installation & Operation Manual - Manual (Page 85)

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balance gets within a percentage of the credit limit. For prepaid accounts, he will be
warned when the estimated balance gets within a percentage of the prepaid amount.
Finance Charge
The percentage used to calculate late charges on overdue invoices. This percentage is
multiplied by the balance for every invoice that is past due the number of days specified.
Finance charges are applied when statements are generated.
Ticket Is Invoice
If yes, an invoice is generated for each ticket.
Payment Terms
Payment terms in the form: Discount % Discount Days, Days Due (e.g. 2.00% 10, Net
30)
Immediate Discount
This percent discount is applied immediately to a ticket. The price components used to
calculate material charge are discounted by this percentage when the ticket is generated.
For example, if a material is normally priced at $5.00 per ton then a 10% immediate
discount results in a new price of $4.50 per ton.
Standard Terms Check Box
If checked, the account will use the system standard terms. Otherwise, the account's
custom terms are used.
Custom Terms Button
Click this button to edit terms that are custom for this account.
Exemptions
Check these boxes to exempt this account from finance charges, freight, and/or freight
tax.