Revenue/Inv

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TFS User Guide - Table of Contents

Documentation Disclaimer

The Revenue/Invoice screen is used to display any applicable penalties for an overdue payment and to create invoices for those penalties.

When a revenue item in the Revenue list is selected, any linked invoice to that revenue will be displayed in the Invoices list.

Opening the Revenue/Inv Screen - Click here to expand...

From the Loan Contract menu, select Revenue/Inv.
From the sidebar, select Loan Contract then Revenue/Inv.

Revenue List - Click here to expand...

A revenue item is created for each penalty clause, as designated on the Contract Overview screen (see Contract Overview):

Late Payment Fee
Penalty Interest

The creation of revenue items is maintained by The Finance Shop. The Revenue dialog is used to mark an item as paid. If you wish to waive the revenue, edit and waive the payment on the Payments screen (see Payments). Once a revenue item is waived, the revenue can no longer be edited.

Invoices List - Click here to expand...

Invoices are created for contract penalty revenue items. Creating a new invoice will display the Invoice dialog with the Invoice Type set to Contract Penalty. Only unassigned revenue, including late payment fee and penalty interest, are available for invoicing.

If revenue is waived after it has been added to an invoice, the invoice will be updated to have the revenue removed and its totals updated. If there are no more revenue items on the invoice the invoice will be deleted.

Creating An Invoice For a Penalty Item - Click here to expand...

Penalty revenue items are created automatically once a payment has been marked as late. Revenue items are displayed in the Revenue list. Invoices for those revenue items are created manually:

Select the Invoices list.
Click New. The Invoice dialog will be displayed.
Enter the Date group fields.
From the Unassigned Revenue list, assign revenue to the Invoice Revenue list using .
Click OK. An invoice will be created.

The payment that the late payment fees relate to must have been paid before you can raise the invoice for it.

Completing a Penalty Invoice - Click here to expand...

Once an invoice has been paid by the client, the invoice must be completed and signed off in The Finance Shop.

From the Invoices list, select and edit the invoice that has been paid by the client. The Invoices dialog will be displayed.
In the Paid group, enter the Amount that was paid and the Completed date.
Click OK. The dialog will close and the Revenue and Invoices lists will be updated.