You can configure charges to apply automatically to customer accounts with overdue balances.
To configure a per annum percentage rate for all overdue accounts please refer to Automatically charge interest % on overdue customer accounts.
This article will assist you to configure specific flat fees for accounts with balances overdue by 30, 60, and 90 days.
Note Before you can charge for overdue accounts, contact Minfos Support to enable this option. During this process Product 995 will be added to your database. Do not remove or alter this product.
Configure flat fee charges on overdue customer accounts
From the Minfos Launchpad:
1. Open the Customers module.
2. Select Account Charges, either via the icon, or select the Functions tab in the menu bar and then select 3. Account Charges.
If below warning is displayed, click OK, and contact Minfos Support for assistance.
The Overdue Account Charges window is displayed.
3. In the Charge Type dropdown, select Flat Fee per Period.
4. Enter the flat fee to charge for the 30, 60, 90 Day periods.
5. You can choose to charge interest to accounts with balances over a particular value. Enter this value in the if overdue amount is greater than fields.
6. Click Save.
Once configured, the flat fee will be automatically calculated as part of the end of day process at the end of the month.