FAQ: How Do I Run Late Fees Manually?

Q: How do I manually configure a Late Fee Schedule in Smartwebs?

A: If your schedule is configured as Manual, you must run it when you want late fees assessed.

1. Navigate to Accounting.

2. Select Collections.

3. Open Late Fee Schedule.

4. Click Run Schedule.

5. Review the accounts that meet the criteria.

6. Confirm to apply the late fees.
   
   

After the schedule is configured, define the conditions under which late fees are applied. 

1. Click the Eligible Charge Codes bar.

2. Select the Eligible Charge Code(s).

3. Enter the number of Past Due Days required before the fee is assessed.

4. Enter the Minimum Balance required to trigger the late fee.

5. Enter the Delinquency Charge code that will be applied.

6. Enter the Price of the late fee.

7. Check Is Percent if the fee should be calculated as a percentage of the balance rather than a fixed dollar amount.

8. Click Save.

   

Best Practices

• Ensure eligible charge codes align with the association’s governing documents and late fee policy.

• Verify the delinquency charge code is configured correctly before enabling the schedule.

• Confirm the Past Due Days setting matches the association’s collections timeline.

• Test the configuration using a small sample of delinquent accounts before applying the schedule across the entire association.

• Review an account ledger after the first run to confirm the late fee posts as expected.

Refer to this User Guide: Configuring Late Fees for the steps to set up Late Fees on a recurring schedule.