User Guide: Configuring Late Fees  

Required Configuration

Before configuring the Late Fee Schedule, confirm the following Accounting items are set up:

• Charge Codes: Assessment or balance types that can trigger late fees must already exist in Accounting.

• Delinquency Charge Code: A charge code designated for the late fee itself must be created and available for selection.

• Association Policy Alignment: The late fee structure (amount, percentage, timing) should match the association’s governing documents and collections policy.

Confirming these items in advance helps ensure the late fee schedule applies correctly.

1. Accessing Late Fee Setup 

• Select Accounting.

• Click Settings.

• Select Collections.

• Click Late Fee Setup.

2. Configure the Late Fee Schedule 

Late fees can be assessed manually or on a recurring schedule.

Option 1: Manual Schedule

Use this option when late fees will be triggered manually.

• Click the Running Schedule bar.

• Select Manual.

• Choose how often the schedule will run from the drop-down menu.

• Click Update.

Option 2: Recurring Schedule

Use this option to automatically assess late fees on a defined schedule.

• Click the Running Schedule bar.

• Select On a Recurring Schedule.

• Choose the Recurrence Pattern.

• Select the Schedule Time Unit.

• Enter the Start Date.

• Select the End Date option.

• Click Save.

3. Configure Late Fee Criteria 

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

• Click the Eligible Charge Codes bar.

• Select the Eligible Charge Code(s).

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

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

• Enter the Delinquency Charge code that will be applied.

• Enter the Price of the late fee.

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

• 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.

FAQ

Q: How do I run the Late Fee Schedule manually?

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.

Late fees will then be posted to qualifying accounts based on the configured criteria.

Q: How can I verify which accounts will receive a late fee before running the schedule?

A: Before running the schedule, review delinquent accounts to confirm they meet the configured criteria.

Recommended checks:

• Review the A/R Aging Report to identify delinquent balances.

• Confirm accounts meet the Past Due Days requirement.

• Verify balances exceed the configured Minimum Balance threshold.

• Check that applicable charges match the Eligible Charge Codes.

Running these checks helps ensure late fees are applied only to accounts that meet the defined criteria.

End of User Guide