Setup Late Fees
Creating Late Fees in RMS.
Have your System Administrator complete the following.
- Go to Setup > Accounting > Late Fees in RMS.
- Select 'Add'.
- Enter a Late Fee Description.
- Select a GL Account Code.
- Choose the Initial Late Fee Option.
- Enter an Amount to Apply.
- Select Recurring Late Fee Frequency.
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.
Select 'Save/Exit' to store the changes made.
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