Late Fees Validation for System Setup
Follow the validation rules below when entering data into the System Setup File. Proper configuration ensures accurate and automated late fee calculations for residents.
Overview
Late Fees are charged to residents if they do not pay their bill before the due date each month, or if they carry a positive balance (i.e., owe money) when the Periodic Task for Late Fees runs. The workbook differentiates between Regular Late Fees and Section 8 Late Fees using the "Is Section 8" column.
Validation Rules
Is Section 8: This column is used to
determine
if the late fees apply to Section 8 residents. Any value other than n, no,
f,
false, or an empty string is considered True, meaning the row applies to Section 8
residents.
Regular late fees can be set by leaving this field empty or inputting "false-like" values.
Initial Late Fee: This is the amount charged to residents on the initial late charge day (as defined in the "Days Until Charged" field).
Daily Late Fee: This is the amount charged each subsequent day that a payment remains overdue after the initial late charge day.
Percentage: This is the percentage of the resident's current lease that you wish to charge for late fees. For example, input "10%" for a 10% calculation.
Days Until Charged: This is the number of days that must pass after the payment due date before late fees begin to apply.
Regular vs. Section 8 Late Fees
To differentiate between late fees for Regular and Section 8 residents, use the following logic:
-
Regular Late Fees: Leave the "Is Section 8" column blank, or input
n,no,f, orfalse. -
Section 8 Late Fees: For Section 8 residents, input
y,yes, or any value that is not explicitly false (as detailed above).
Helpful Notes
- Ensure the "Is Section 8" values are consistent to avoid incorrect application of late fees.
- Use realistic percentages and fee amounts to align with your organization's billing policies.
- Always test the setup on a few sample records to confirm expected system behavior.
