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How to apply late payment penalties?
It is possible to insert in the statements of accounts and in the collection documents sent to the customer the amount of late payment penalties.
To do this, fill in My account
the rate of late payment penalties that you want to use.
Then it is necessary to activate the late payment penalties for the clients you want to apply them. This is possible in three ways:
This method allows modification over time, as needed. Click on the little blue pen at the top right of your customer file, then clic Yes on the Late payment penalties?
This option shall be preferred when you want to apply the late payment penalties to a customer list according to some criteria. To do this, go to the tab Clients:
Fill in your search criteria, or copy/paste a list of customer accounts from
Excel (or other tool) in the Company code field:
Display and select all the customers, then activate them late payment penalties (at the bottom of the page):
The late payment penalties will be automatically activated on any new customer based on th defined automatic assignment tasks or, in the event that no assignment is applied, the default assignment. This set up has to be done from Settings, Manage Search & assign, tab Late payment penalties or tab By default:
→ You can use now the #Hashtag to include the late penalties and/or recovery cost from your collection :
→ Or the following #Hashtag to exclude the late penalties and/or recovery cost, for example from your first reminders :
To do this, fill in My account
the rate of late payment penalties that you want to use.Then it is necessary to activate the late payment penalties for the clients you want to apply them. This is possible in three ways:
1. Inside the customer file
This method allows modification over time, as needed. Click on the little blue pen at the top right of your customer file, then clic Yes on the Late payment penalties?
2. Mass change on selected customers
This option shall be preferred when you want to apply the late payment penalties to a customer list according to some criteria. To do this, go to the tab Clients
:Step 1 Search
Fill in your search criteria, or copy/paste a list of customer accounts from
Excel (or other tool) in the Company code field:Step 2 Activate late payment penalties
Display and select all the customers, then activate them late payment penalties (at the bottom of the page):
Tips → once the desired selection is done, you can save your search and name it. To retrieve the selection, just click the Show Search button after selecting the My Searches tab.
3. From Search & assign, to activate by default the late payment penalties or according to your own criteria.
The late payment penalties will be automatically activated on any new customer based on th defined automatic assignment tasks or, in the event that no assignment is applied, the default assignment. This set up has to be done from Settings, Manage Search & assign
, tab Late payment penalties or tab By default: Late penalties will now appear in the statement of account in customer file and in the account statements sent to customers by email or mail. They are applied to invoices only, excluding disputed items. Miscellaneous transactions will not have late payment penalties calculated too.
→ You can use now the #Hashtag to include the late penalties and/or recovery cost from your collection :
#items_amount_overdue_include_late_penalties to retrieve the total amount of due invoices plus payment penalties and/or recovery cost.
#items_amount_late_penalties that display the amount of late penalties and/or recovery cost
Late penalties and/or recovery cost will be displayed in the customer file and on the items list only if they are activated in the customer file
→ Or the following #Hashtag to exclude the late penalties and/or recovery cost, for example from your first reminders :
#items_list_overdue_exclude_late_penalties that display the statement of account of due invoices without calculating the late penalties and/or recovery cost
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