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Payments
Payments
The Payments screen displays all payments for the contract. Individual payments can be viewed or edited. If a residual payment is included, it will have its own payment record at the end of the contract.
The Amount column is the total amount for an individual payment.
The Penalties column is the total of unwaived penalties that may apply to an overdue payment. There are two penalties that may apply:
- Late Payment Fee
- Penalty Interest
The penalties amount is calculated as the sum of the total of each penalty revenue item. However, if an agreed penalty amount has been paid, for example $200 instead of the calculated $300, then the paid Amount value on the Revenue dialog is used instead of the penalty revenue total. This helps show actual penalties and excludes any variance.
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