Bill Inquiry Interest Due not included in Penalty calculation
- Knowledge Assistant
Penalty amount only calculating based on principal unpaid.
Interest not included in the Penalty amount calculation.
Accounts Receivable
Property Tax Billing
Bill Inquiry
Payment Entry
CSS
11.3 upgrade
On-the-fly Penalty will only calculate on the unpaid balance for charge codes that are setup with the Subject to Penalty checkbox enabled. Typically, this is only PRIN Activity Type charge codes.
For Penalty, PEN Activity Type charge codes, to include on-the-fly Interest as well in the penalty calculation, the Interest Charge Code field on the PRIN charge code must also be assigned with a FEE Activity Type charge code, to represent the Interest, and that Interest FEE charge must also be setup with the Subject to Penalty checkbox enabled. Note: This functionality only exists in Enterprise ERP 2024.1 and up.
Contact the appropriate Enterprise ERP Support team, based on billing category, for further assistance. See the following article: How to determine the correct Accounts Receivable support team to assist with an issue