4.73.9 - Late Settlement Fees

Staging Late Fees in the Loan Ledger

The Late Settlement functionality now allows users to stage overdue loan late fees directly in the loan ledger before creating manual transaction receipts.

Confirmation of Late Settlement

1. Click the Late Settlement button to view existing and pending late costs.

2. Review the breakdown of staged fees.

3. Save changes to apply pending costs to the loan ledger.

Late Settlement Button: A new button in the loan ledger displays all late costs, divided into:

Select the Late Settlement Option

Existing Late Costs: Displays late fees that have already been applied to the loan, providing details such as overdue days, penalty fees, and VAT to ensure transparency.

Pending Late Costs: Highlights staged fees awaiting approval. These fees are fully itemized to include:

• Deferred Capital: The principal balances that remain overdue.

• Late Interest: Accrued charges on overdue amounts.

• Penalty Fees: One-time charges for late payments.

• Service Fees: Recurring charges for managing overdue accounts.

• VAT: Taxes applied to the total late costs.