/
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:

  1. Cashiering > Administration > Payment Types
  2. Find the desired Payment Type and click pencil icon to edit 
  3. Processing tab 
  4. Turn on Allow waive fee editing 
  5. Save


To waive fees/ interest in Cashiering:

  1. Create or Resume Cashiering batch
  2. In Receipt Entry, use search criteria to find bill
  3. Select bill to add it to the cart
  4. Click Modify 
  5. If waiving is permitted, there will be a W icon at the top of the page. Click the icon
  6. Input the amount to be waived into the Waived interest or Waived fee fields as applicable 
  7. 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:





Related content

Run a report for penalties and interest waived with payment
Run a report for penalties and interest waived with payment
More like this
Forgive Interest
Forgive Interest
More like this
Forgive Interest on Business License
Forgive Interest on Business License
More like this
How to forgive held interest
How to forgive held interest
More like this
Waiver during Payment transaction in Bill Inquiry History
Waiver during Payment transaction in Bill Inquiry History
More like this
Payment Entry waived interest converting to negative Held Interest
Payment Entry waived interest converting to negative Held Interest
More like this