Amount Due

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General Information

When you select a customer through Customer Activity, the customer's screen will list their "Amount Due Today". This amount includes any payments the customer is past due. 

•The Amount Due Today may or may not include any late fees the customer has generated, depending on your system options. 
oIf you have it set to pay off late fees before the contract balance, the late fees will be included in your amount due today. 
oIf you have your system set to pay off late fees only after the entire contract balance has been paid, the late fees will not be included in the amount due today. 
•If you want to change your settings for when late fees are paid, go to Miscellaneous, 1 - System Options, then tab 7 - Other.
•The amount due today does not include the customer's repairs balance.

 

In some cases, you may believe the customer has made all of his payments, but still may have an amount listed for "Amount Due Today". 

•If the customer has had late fees applied to his balance, he may have paid his regular payment amount, but some of this payment may have gone to pay off late fees.
• Also, if the customer had a repairs balance, some of the payment may have gone to pay off the repairs balance if you selected that option.

Advancing the Due Date

By default, the FRAZER system is set up so that if 80% of the payment amount is not received, it will not advance to the next due date. 

 

For example, suppose a customer has a payment amount of $100.  They come in and write a check for $100, but $30 of that payment goes toward their repair balance.  They will then have $70 going toward their payment, which is less than 80% of $100. Accordingly, their due date is not advanced, and the system will still show them having an amount due today. 

 

If you wish to change the 80% to another number, go to Miscellaneous, 1 – System Options, then tab 4 – Payment Options.  The top line says "Percent of Payment that must be received to advance due date," and you may set this percentage to be whatever you desire.

 

Right below that (on tab 4 of System Options), there is a system option that says "Enter number of days that customer can come in to pay early and have their payment amount included in the coming month's payment".  If this is set to 0, the customer's payment amount will not be added to their "Amount Due Today" until the day the payment is actually due.  However, if this option is set to 10 days for example, and the customer is current, their "Amount Due Today" will say $0 until 10 days before their due date, when the "Amount Due Today" will revert to their usual payment amount.  If they come in to pay before the system charges them for their next payment in their "Amount Due Today", they will show a negative amount due until how ever many days before their due date, when the payment due will be added to "Amount Due Today" and this amount will return to $0. 

 

Used Car Dealer Software by Frazer Computing, Inc.