Frequently Asked Questions (FAQ)

How to add Late Fees?

    IF NO LATE FEES IS APPLICABLE THEN THIS STEP CAN BE SKIPPED, otherwise follow the steps below

  1. Click on the “Late fees” tab on the left.
  2. Select the branch and click on “Add Late Fees”.
  3. Type the Description, give the type of fees viz, One Time or Recurring
    • If recurring is selected then select daily, weekly, and monthly

      Daily: If opted for daily recurring, the late fees will get added on every day selected after the due date

      Weekly:If opted for weekly recurring, the late fees will be applied after a week from the due date

      Monthly: If opted for monthly recurring, the late fees will be applied after a month from the due date

  4. Add maximum late fees if required over which the late fees won’t get added further, it is not mandatory
  5. Add maximum late fees if required over which the late fees won’t get added further, it is not mandatory

    It is the Minimum amount of late fees applied to the fee defaulters, over which the late fees gets cumulated