Automatically levied on overdue payments according to predefined mapping & rules.
- Calculation Methods:
- Fixed Amount: A specific amount per instalment or fee type.
- Fixed Percentage: A percentage of the instalment or fee amount.
- Day-Wise Amount: Daily penalties added after the due date.
- Slab Amount: Fixed fine amount for days in a slab eg. 0-30=100 Rs., 31-90=500 Rs.
- Slab Percentage: Percentage wise fine calculation for days in a slab eg. 0-30=10%, 31-90=15%
- Day wise Slab Amount: Per day fixed amount calculation for the total assigned amount in a slab, Per day charges will be after division defined amount by the days in a slab.
- Day wise Slab Percentage: Per day fixed percentage calculation for the assigned percentage for a slab, Per day charges will be after division of the defined percentage by tge days in a slab.
- Dependencies:
- Changes to fee instalment dates automatically recalculate unpaid fines.
- If student categories change, late fines based on the old structure are removed, and new fines are applied under the updated structure.
- Late fines cannot be paid independently of associated fee instalments.
- Partial Payments:
- If a fee type instalment is partially paid, late fines are levied for each subsequent collection until the instalment is fully paid.
- Mapping:
- Fine will be auto assigned based on post the End Due Date as per the Fee Schedule.
Video Tutorial :
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