Assessing Late Fees

The Property Manager application can automatically assign late fees to all or some of the delinquent accounts as well as print applicable late notices. Before printing late notices, the delinquent accounts must be updated so that late accounts can be assessed late fees and so that late notices can be printed.

Late Fees can be assessed by observing the following steps:

1. Select Assess Late Fees from the Late Fees menu.

2. A list of delinquent accounts will be generated and shown in the Add Late Fees screen.

3. When the Add Late Fees screen appears, place a check next to each delinquent account that you want to have a late fee assigned to.

4. Select Add Late Fees from the File menu and all of the checked accounts will be updated with late fees.

An account is assumed to be delinquent if the date resulting from the most recent transaction's due date plus the number of grace period days is greater than the current date. In other words, if the due date for the next transaction is 01/01/2003 and the grace period is 10 days, the account would show up as delinquent as of 01/12/2003.