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RC- Revolving Charge

A web‑based software system designed by Accounting Technology, LLC.
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Revolving Charge is an accounts receivable application that will accept transactions, maintain accounts, calculate current receivables for most receivables terms, produce statements, and generate reports reflecting current balances of accounts. In addition to calculating finance charges on the Average Daily Balance and accurately managing revolving charge aging, the application also has features to facilitate accurate and cost-effective receivables collection.

Purchase of RevolvingCharge includes these minimum components:

  • The Base RevolvingCharge Application, which comes with a warranty that extends 45 days after your first statement generation date. The product is sold per site and the application must be registered for each workstation it is installed on. If you have multiple sites, please contact our Sales department for scaling quotes.
  • Initial Setup Services, includes eight (8) hours of setup services for your initial database setup and installation for each company you are maintaining receivables for. Initial Setup Services also includes one statement format configured to your needs plus one set of collection letters built using your content. Any setup work beyond the initial eight (8) hours will be billed at our standard hourly rate.
  • Basic Auto Update Subscription Plan. This is an annual Plan that will ensure you receive the latest version of the RevolvingCharge Application as released.

Depending upon your system, beyond these basic components you may also need:

  • An Interface with another application
  • Auto Update Subscription Plan for your Interface. This will ensure you receive the latest upgrade of the Interface as released.
  • Custom Modifications or enhancements to the RevolvingCharge application, such as managing special terms, or for new reports, etc.

Feature Recap:

Terms

  • Comprehensive options for Minimum Payment Due calculation
  • Comprehensive options for Minimum Payment To Avoid Finance Charges calculation
  • Flexible, by Account, terms options for temporarily deferring or overriding Finance Charges
  • Flexible, by Account, terms options for temporarily deferring or overriding Minimum Payment Due
  • Monthly Finance rate by account or by state required tiered rates

Statements

  • Statements generated using Crystal Reports to either blank or preprinted forms.
  • Ample fields available for inclusion on statements, such as Credit Limit, Available Credit, Dates
  • Option to include short one time or recurring general mesBest regarding promotions, notices, etc.
  • Option to include short collection notes based on the number of periods late for customers in arrears.

Reports

  • Transaction, Trial, Aging, Summary, Collection Worksheet reports among those included.

Collections

  • Generate complex content for dunning letters which include account specific data
  • 20 possible letters varying across 5 aging buckets, No Pay or Partial Pay, and 1st or 2nd notice

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