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iunddoc2
Canine II

re: Practiceworks late fee/interest

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If I'd like the accounts to only charge a late fee, not interest, how can I make that happen?  It seems that I have done all as instructed and it still seems to still not work.  I was advised to make sure the charge interest box was unchecked so that only late fees apply, but it still accrues interest on some accounts and not a late fee instead.

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CS Dental Employee
CS Dental Employee

Re: re: Practiceworks late fee/interest

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Tagging robert.angus‌ and johnathan.d‌ to address.

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Moderator
Moderator

Re: re: Practiceworks late fee/interest

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Hello Stephanie

I'll start with a screen shot of the statement setup on how it should look if you only want late fees, but not interest.

To get to these settings go to File > Preferences > Statement setup

late fees only

If you do not want the interest to charge, you'd need to uncheck the box for "Charge interest" as it is not needed when doing late fees only.

 only the Two boxes that are highlighted in the image will need to be filled out.

Something to keep in mind though, Late charges are based on the statements, not the account aging.  So you will also want to make sure the settings under "What to print" are set to insert a due date.  The option for "Print amount due and date"  and then setting a number in the sub-option for "Due Date is  X Days from stmt print" will create a due date on the statement and the late fee's date is based on that number.

due date option

Say for example with my screenshot set up.  If I printed a statement today, it's due date would be in 15 days, which is 6/6/18. At that point the payment is considered late and it would trigger the late charge. However, if you have the late charge grace period set, as mine is. it would trigger the grace period counter instead. This would then make it so that 10 days after the due date the late charge would apply if the balance has not been paid yet. so in this case it would be on 6/16/18. 

If the patient does pay their amount due before the late charge grace period has passed, it will not charge a late fee on the patient's account.