Use Customer Classes to group similar customers together for reporting. Receivables includes reports which provide data grouped by customer class. Customer classes are also used to supply default settings for customers when you create new customers in Customer. This helps standardize the way customers are set up by class. The default values can be overridden when you set up new customers, and some default values can also be overridden during data entry.
Setting up Customer Classes
Select Financials | Setup | Customers Classes.
Click New to create a new customer class.
In Description, specify a description for the customer class.
In the Customer Defaults area, specify the following settings:
In Finance Charge, select the finance charge. The value specified here is used by Assess Finance Charges. You can also create a new finance charge by using the Quick Add feature. For more information, see Quick Add.
In Payment Method, select the payment method. The payment method is currently information only. You can also create a new payment method by using the Quick Add feature.
In Statement Cycle, select the statement cycle. The value specified here may be used as selection criteria in Print Customer Statements. You can also create a new statement cycle by using the Quick Add feature.
In Terms, select the terms type. You can also create a new terms type by using the Quick Add feature.
In the Default General Ledger Accounts area, specify the following account group settings:
Accounts Receivable - the account to which the customer invoice documents are debited
Revenue - the account that is used as the default revenue account in Customer
Finance Charge - the account credited for finance charges generated in Assess Finance Charges
Terms Discount Given - the account that is debited when a financial discount is given for a cash receipt
Small Balance Write Off - the account that will be charged when a Write Off Remainder is checked on an application line in Cash Application
Note: To specify any of the previous account groups, select the account in Acct, the department in De, the territory in T, and the product line in P. You can also create new account group segments by using the Quick Add feature.
Click Save and New, or click Save and then click New, to save the current customer class and start adding the next.