Lesson #136
Setup – System Preferences function
Entities System Preferences
Save time when entering new contacts, firms, and resources by specifying some defaults.
Autofill contact & resource names
If you enable Autofill for Contact and/or Resource names, RB9 will autofill the Full Name field when individual name fields (First Name, Mi., Last Name, Salutation) are entered in individual contact/resource listings. You choose which name fields automatically fill in and in which order.
Invoice options for firms
Default settings for new firms cover invoice options.
If you add late charges (one-time fee added to invoice balance after a certain number of days) and/or finance charges (monthly % of outstanding balance) to your invoices, you can set default percentages including up to 3 decimal placements. Similarly if you need to bill for state sales tax, you can include your sales tax rate as a percentage including up to 3 decimal placements.
You can specify how many days old an invoice has to be when you haven’t received payment yet before RB counts it as being past due and notifies you to start collection efforts.
You can also have RB detail services on invoices as the default for new firm entries.
You can change defaults for individual firms in their Firm listing.
Payment terms for resources
Default settings for new resources cover payment terms for originals and copies. RB will wait the number of days set here to release outstanding payables to resources. The number of days can range from 0 (zero) to 9999.
A term of 0 (zero) means you pay on bill-out: There is no waiting to pay resources. As long the invoice is within the cutoff date for the next payroll, it will be included in the payroll to pay to the resource. Cutoff dates are set up in combination with pay dates.
A term of 9999 means the resources won’t get paid for an invoice until the invoice balance reaches $0.
If you have specific wait periods, for example resources wait 2 weeks (14 days) to get paid for copies, you set the copy term to 14. RB will wait until invoices for copies reach 14 days old to be released for payment to the resource.
You can change defaults for individual resources in their Resource listing.
TL;DR: Set default invoice options for new clients, and default payment terms for new resources.
RB concepts in this lesson
Firm: Company you do business with.
Resource: Person or thing that provides your business with a service, such as reporters.
