Business Process: 4.3.2.5a Manage Late Payment Charge
Sibling Processes: 4.3.2.1Manage Collection Process, 4.3.2.2 Manage Severance Process, 4.3.2.3 Manage Pay Plan, 4.3.2.4 Manage Payment Arrangement, 4.3.2.6 Write Off Uncollectable Receivables, 4.3.2.7 Manage Collection Agency Referral, 4.3.2.9 Manage Liens, 4.3.2.10 Manage Foreclosure
The background process, Late Payment Charge, reviews Bills for Accounts eligible for Late Payment Charge assessments. The Late Payment Charge is calculated based on configurable business rules and added as an adjustment to specified Service Agreements for the Account.