This field is on the Credit tab of the Customer Maintenance window.
This field is required. This is the balance method for this account. The balance method identifies this customer's payment method.
B = Balance Forward.
This customer pays by statement. You apply payments to the oldest balance (not specific invoices). The entire balance falls due each period.
On statements, only those transactions that occurred since the last statement print. The system purges the detail of any previous transactions and compresses the balance into one amount. The Past Due Periods Kept After Purge field in Function MCT (A/R ControlFile Maintenance) determines whether the system purges the detail every month, every two months, or every three months.
The system ages past due balances based on how late they are (1-30 days, 31-60 days, 61-90 days, and over 90 days).
O = Open Item.
This customer pays by invoice. You apply payments and credit memos to a specific invoice. The entire balance falls due each period.
On statements, all unpaid invoices (and all credits applied to them) and unpurged invoices print. The system purges the detail of a transaction when the customer completely pays off the account.
The system ages past due invoices based on how late they are (1-30 days, 31-60 days, 61-90 days, and over 90 days).
R = Revolving Charge.
This customer pays by statement. You apply payments and credit memos to the account balance. Only a certain percentage or dollar amount, plus any amount the running balance exceeds the credit limit by, falls due each period. Unpaid minimum payments may be subject to late charges.
On statements, only those transactions that occurred since the last statement print. The system purges the detail of any previous transactions every month and compresses the balance into one amount.
The system ages balances based on how late they are (1-30 days, 31-60 days, 61- 90 days, and over 90 days).
You can change a customer's balance method. See the Accounts Receivable Manual, the tabbed section, Maintaining Accounts, the section "Changing an Account" for details.
This field defaults to the Bal Method field in Function MCT (A/R Control File Maintenance).