Penalty Calculation
You can calculate penalties based on
Outstanding Amount, Original Amount or Original Amount Less Tax. An
unlimited number of penalty types can be set up in the system and
assigned to individual accounts.
Minimum amounts for the penalty or
the penalized items can be configured. Penalties can be compounded
or simple.
Assign the proper penalty type to
each account then mass-calculate by Billing Cycle, Due Date or
Route.
Screenshot - Penalty Setup
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