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Waiving interest or fees in Cashiering
Waiving interest or fees in Cashiering
Description of Issue
Interest or fee needs to be waived from payment in Cashiering.
Context
- Cashiering
- 2021.1+
- EERP
- Payment Processing
- Real Estate
- Personal Property
- Tax Billing
Cause
Interest or fees can be waived at the discretion of the site. As an example, a site may choose to remove interest on a bill that accumulated from a late payment.
Resolution
Permissions to allow interest/fees to be waived in EERP:
Change Accounts Receivable User Preferences to View Charge Groups When Entering Payments
Permissions to allow interest/fees to be waived in Cashiering:
- Cashiering > Administration > Payment Types
- Find the desired Payment Type and click pencil icon to edit
- Processing tab
- Turn on Allow waive fee editing
- Save
To waive fees/ interest in Cashiering:
- Create or Resume Cashiering batch
- In Receipt Entry, use search criteria to find bill
- Select bill to add it to the cart
- Click Modify
- If waiving is permitted, there will be a W icon at the top of the page. Click the icon
- Input the amount to be waived into the Waived interest or Waived fee fields as applicable
- Click Update
Additional Information
Notes:
- Interest is calculated on the fly. It is not stored.
- Waiving interest is the equivalent of the interest being forgiven.
- Adjustments can be added to the record after the payment was already made.
- Holding the difference saves the interest for later.
See also:
, multiple selections available,
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