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Setting Up Late Fees - Billing

This section provides an overview of late fees – billing and discusses how to defining Late Fees - Billing Parameters.

To supplement the Late Fees process, Campus Solutions offers an alternative Late Fees calculation process

While Late Fees uses past-due amounts, aging categories, or both to calculate late fees, Late Fees - Billing compares the amount due from a specified billing record with the amount of payments or credits on the account. If the payments or credits are less than the amount due, the student is assessed a late fee.

Late Fees - Billing enables you to:

  • Define which payments or credits are considered in the calculation, using Item Type Group.

  • Define a threshold amount for which, the account is not assessed the late fee if the unpaid balance is less than this threshold.

    Note: You must select either the Late Fees method or the Late Fee — Billing method, but not both, at the Business Unit level as the method for calculating and processing late fees.

Page Name

Definition Name

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Usage

Late Fees - Billing

SSF_LATE_FEE_CD

select Set Up SACR, then select Product Related, then select Student Financials, then select Charges and Payments, then select Late Fees, then select Late Fees — Billing

Set up parameters for late fees - billing.

Access the Late Fees - Billing page (select Set Up SACR, then select Product Related, then select Student Financials, then select Charges and Payments, then select Late Fees, then select Late Fees - Billing).

Image: Late Fees - Billing page.

This example illustrates the fields and controls on the Late Fees - Billing page.. You can find definitions for the fields and controls later on this page.

Late Fees - Billing page.

Field or Control

Definition
Late Fee Run Minimum

Enter a minimum balance for the run.
Maximum

Enter a maximum balance for the run.
Late Fee Period Maximum

Enter a maximum late fee amount for the period.
Period From Date

Note: Indicate the from date to be used for determining previously assessed late fees (part of period maximum calculation).
Service Impact

Enter a positive service impact to prevent late fee assessment
Account Type

Indicate the account type to be used to post the late fee.
Late Fee Item Type

Indicate the item type to be used to post the late fee.
Offset Group

Enter the offset item group to be used to identify credits that should be applied for processing.
Exclude Charge Reversals

Select to indicate whether reversals should be included when the system is determining the charge adjustments. These are charge reversals from charges that have already been billed.

Late Fee Rules

Field or Control

Definition
From Amount

Identify a minimum amount for the range.
To Amount

Identify a maximum amount for the range.
Late Fee Flat Amount

Optionally, indicate a flat amount for the late fee. You must have at least the flat amount or the percentage set up.
Late Fee Percentage

Optionally, indicate a percentage amount for the late fee.