Flat Late Fees in Private Billing

Overview

The following topics are covered for running flat late fees in the Private Billing module:

• Set up the flat fee option

• Run the Charge Batch Sales (or Charge Batch/Returns)

• How to run the billing cycle with flat late fees

• Print the reports for the billing cycle

 

Flat Late Fee

Overview

Customers are sometimes charged a finance fee or a percentage of their outstanding balance if they fail to make a payment on time. You also can set late fees for customers who are late with their payment; this can be instead of or in addition to the finance charge.

To set up the flat fee option

1. Go to Tools | Options You could also press the F2 key on your keyboard. | Customer Management Options. The Customer Management Options screen displays to the right.

2. Select the Other blue down-arrow. 

3. Scroll down to select the Enable Flat Fee checkbox.

4. Set a threshold dollar amount, which will determine whether a member will be charged based on the amount of money the customer owes.

5. Select Save and Close in the lower right corner of the screen.

 

To run the Batch Sales/Returns

Note: The following steps must be done PRIOR TO COMPLETING the billing cycle.

1. Go to the Sales module, and select Sales from the toolbar then Batch Sales Charge or Batch Sales/Returns.

or

 

Note: The above menu item selection depends if you were set up with a Sales or a Retail module. If your main screen contains a Retail button at the bottom, you are set up with a Retail module and therefore your selection will be Batch Sales/Returns.

 

The Batch Sales screen displays:

 

 

For example, payment must be received by the 20th of the month. So, you would select the 20th of the month that you are about to run a billing cycle for.

3. Click the Fetch Overdue Payments button at the bottom of the screen. The batch populates with the members that have not paid off the previous month’s balance. It also creates a batch description denoting this batch as late fee charges for the entered date.

4. In the Product Code field in the middle of the screen, enter a late fee product to charge the members.

5. Click Run Batch. The batch charge should appear in each of these members’ accounts and post on the date you selected in Step 2.

6. You can now run your billing cycle, and the late charges will show on the customers’ statements. To learn how to run the billing cycle, jump here>>

Note: Closing the billing cycle before charging the late fee will require it to be unclosed before running the charge.