Let’s face it—everyone hates late fees. Still, they can be a necessary evil. Akada simplifies the process by giving you the flexibility to post late fees to an entire billing frequency or all accounts at once. Just tell the system which unpaid charges to consider and the date range to review, and you’re done.
To Post Late Fees:
Scroll to the Financial section of the main menu located on the left of your screen.
Click to expand the Post Charges section and then select Late Fee.
Choose the billing frequency you want late fees applied to (you may also choose all).
Enter the date and description.
Choose the Late Fee type (details below).
Check the boxes to apply prior payments or credits, allow online payment, or ignore any discounts applied to the account or student.
Next, check or uncheck the boxes for the types of unpaid charges to be included.
Enter the date range of unpaid charges*.
Scroll down to review and confirm late fee posting (shown below).
Use the purple action menu to view details or edit the late fee.
When satisfied, click the Post Charges button.
You will see a small pop-up confirming the posting, along with a message in the charge options section.
Late Fee Types:
Percentage - Akada will calculate the late fee by multiplying the entered percentage by the past-due amount for the chosen date range.
Amount - A late fee charge will be applied for any existing balance dated within the chosen date range.
Amount * each late charge - A late fee will be applied to each charge with a balance dated within the chosen date range.
Example: if there are three past due charges, three late fees will be applied.
Posting History:
The posting history allows you to review previous Late Fee postings.
Use the purple action menu on the left to delete the entire posting.
Individual late fees must be deleted from the account transaction screen.
Use the Status menu to display Current, Deleted, or All postings.
The search function can be used to narrow the search results by date.