How is the late fee fine calculated?

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.