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    Setup Late Fees

    Creating Late Fees in RMS.


    Steps Required

    Have your System Administrator complete the following.

    1. Go to Setup > Accounting > Late Fees in RMS.
    2. Select 'Add'.
    3. Enter a Late Fee Description.
    4. Select a GL Account Code.
    5. Choose the Initial Late Fee Option.
    6. Enter an Amount to Apply.
    7. Select Recurring Late Fee Frequency.
    8. Save/Exit.

    Visual Guide

    Go to Setup > Accounting > Late Fees in RMS.

    Select 'Add' to create a new Late Fee.

    Enter a Description for the new Late Fee.

    Select a General Ledger Account Code for Late Fee revenue to be reported against.

    Choose the Initial Late Fee option and enter the number of days.

    Enter an Amount to Apply.

    Enter the number of days a Late Fee should reapply to the account if the account continues to be overdue.

    Info

    For a once off Late Fee that does not recur, leave number of days as '0'.

    Select 'Save/Exit' to store the changes made.


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