Want to keep the late fees, but not show the loan as behind because they weren't paid.

Handling payments and adjustments, running reports, doing your accounting with Moneylender.
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wtech_josh
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Want to keep the late fees, but not show the loan as behind because they weren't paid.

Post by wtech_josh » Mon Dec 16, 2019 3:10 pm

When a borrower is late, but only pays the regular payment, and you don't want to have the late fees showing as outstanding on the loan or affecting the loan's current/past-due status, here's a quick way to tell Moneylender not to worry about getting the extra money owed from the late fee right away.

Pretend you're going to waive the late fee - https://www.moneylenderprofessional.com ... e-Fee.aspx

Waiving the late fee adds an adjustment to the Fees account opposite the fee that was waived. Go to the Settings tab > Adjustments section and select the adjustment that was created by waiving the fee. Change the adjustment's account to AmountDue instead of Fees. This will leave the late fee on the loan, but tells Moneylender not to worry about expecting the borrower to send in that extra amount right away.

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