How_do_I_calculate_penalty_based_on_contract_balance_

How do I calculate penalty based on contract balance?

Set up a service to calculate penalty based on a contract balance.


Calculating penalty based on contract

1. Open Connect Utility Management > Organization > Services.

2. Look up the service that will calculate penalty based on contract balance.

3. Find the section titled Penalty Service Options. 

4. In the Penalty Type field, enter 8.

If the service calculates a penalty, select a penalty calculation method from the following options (1-8):  

(0) Simple calculation.

(1) Forfeiture of discount.

(2) Lesser of simple or forfeiture.

(3) Simple plus forfeiture.

(4) Extra. Calculates an additional penalty during same period.

(5) Applies payments to current billings before applying payments to arrears.

(6) Applies payments and credit billings to current billings before applying payments to arrears.

(7) Calculates penalty based on loan balance.

(8) Calculates penalty based on contract balance.

 

5. Click Save (CTRL+S).

The service will calculate penalty based on a contract balance.

Updated 12Dec2017

 

 

Copyright © 2025 Caselle, Incorporated. All rights reserved.

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