Defining an initial penalty charge

An initial charge is a one-time charge that is applied to qualifying accounts. You can add multiple initial charges to a penalty detail, each a different type, such as a penalty charge applied 30 days after the delinquent date and an interest charge applied 45 days after the delinquent date.

  1. Begin to edit a penalty detail.
  2. Click Add above the Enter Initial Charges grid.
  3. In the # of Days field, specify the number of days after the bill's delinquent date that you want to apply this penalty.
    The delinquent date always starts with the delinquent date of the bill. For example, you would specify 15 if you want the penalty to take effect 15 days after the bill’s delinquent date, and 0 if you want it to take effect on the delinquent date.
  4. If you want to apply the penalty as a percentage of the delinquent amount, specify that percentage, as a decimal value, in the Penalty Rate field.
    For example, to charge 5 percent of the delinquent amount, you would specify 0.05.
  5. If you’re defining a one time penalty, you can specify a flat amount in the Flat Amount field.
    If you specify both a flat amount and a penalty percent, Infor Public Sector applies both charges independently of the other during a penalty run.
  6. From the Type list, select whether this is a penalty charge or interest.
  7. If you want to calculate the amount of the penalty, specify a formula in the Formula field.
  8. Click Save.
    Infor Public Sector saves the charge to the penalty detail and shows it in the grid.