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Late Payments
Late Payments
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RELEASE NOTES
NEWS BULLETINS
TFS MANUALS
FREQUENTLY ASKED QUESTIONS
This document outlines the procedures for managing late payments.
Setting Late Payments
When you create a contract, you can specify any fees that will be applied if a payment was not made on time.
In the example above a $50.00 Per Payment, fee has been set.
Process Overdue
Process Overdue: Updates the payment and contract status of all contracts. This process should be run once per day.
Any penalty payments for the contracts overdue will be added to the Revenue/Inv. screen.
Creating Invoices for Late Payments
- Select Loan Contract.
- Click in the Invoices section of the screen.
- Click New.
- Select the Unassigned Revenue item.
- Click on the button to add the item
- Click OK.
IMPORTANT You can only create the invoices for late payments after the payment that the penalty applies to has been received. |
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, multiple selections available,
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