Receivables & Collections

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Topic

    Traci Kawaguchi
    Create a late charge in customer profile
    Topic posted January 11, 2019 by Traci KawaguchiGreen Ribbon: 100+ Points, last edited February 6, 2019, tagged Public Sector 
    53 Views, 1 Comment
    Title:
    Create a late charge in customer profile
    Summary:
    Need help setting up fixed/variable late charges on a Receivables customer profile
    Content:

    I need help to set up the Receivables late charges. Invoices are due Net 30, so any 30, 60 or 90 days past due invoice that is greater than $15 needs to receive a penalty. The late charge is $15 or 1.5% of the past due balance, whichever is greater. I have been successful doing one or the other, but I haven't figured out to get both. Any help would be greatly appreciated.

    Version:
    13.18c

    Comment

     

    • Felix Beaudoin

      Hi Traci!
      Based on the configuration pages, I cannot seem to be able to configure both the percentage and amount based depending on which one is larger.
      I would recommend you discuss with your client the 1.5% approach and what the average amount is for past due invoices. If the average is greater than 100$, simply use the percentage for your fixed Late Charge Schedule and if the average is smaller than 100$, use 15$ as a late charge in your schedule configuration.
      Unless someone else within the community has been able to achieve this requirement and can clarify the situation, I think it's one or the other. Not both in the same rule.
      Hope this helps!
      Regards,
      Felix