Late Payment Charges are fees for members who have failed to pay their accounts on a timely basis.  Typically these charges are posted as part of the end of month accounts receivable processing.  To launch Overdue Service Charges, click on   , which can be found in the Accounts Receivable group.

The process is completed in three steps:

Statement For (Step 1) (outlined in blue in the image above)

• Select the fiscal year and fiscal period from the drop down lists
• Select what constitutes overdue service charges from the drop down list 'Charges S/C For:'
• Click the Load/Reload button to load a list of members who are in arrears in accordance with the criteria set

Charges Calculator (Step 2) (outlined in green in the image above)

• The Select All and Select None buttons will place/remove check marks in the checkboxes beside each member in the list.  The normal process will be the  Select All, then individually uncheck the checkboxes for members to be exempted for the charge
• Establish the rule for charging.  Options include:
  • Interest rate
  • Flat rate
  • The greater or lesser of a combination of interest rate and flat rate
• Click on the Calculate button to display the amounts of the overdue service charges in the member list above

Apply Charges (Step 3) (Outlined in red in the image above)

• Select the Post Date which will be the date that the overdue service charges will be applied to the members' accounts (this will typically the last day of the month for the Fiscal Year and Fiscal Period selected in Step 1
• Click Post to post the charges