Assess Late Charge at the Household Level

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This task is used to assess a late charge for an individual household who is late with payment, based on the Late Charge Method that is set-up for the community and Funding Program Group. The Late Charge Method can be set to charge for Rent only, All Receivables, or All Scheduled Receivables. To assess late charges for an entire community see the Assess Late Charge task in the Accounting Detail View.

Prerequisites:

A Late Charge Method must be set-up in the Lookup Tables and assigned to the community and the Funding Program Group on the Community Detail > Rents Tab.

How do you get here?
Household Detail Accounting Tab Receivables Tab Tasks Assess Late Charge

To Assess a Late Charge:

The following fields will be pre-filled by the system and appear in gray, as they cannot be changed.

Community

Apt. Nbr

Receivable Type

GL Account

GL Offset Account

Enter the following information:

Charge Date: Enter the effective date of the late charge event. The system will pre-fill this field with the current date, however you may select any date prior by entering the date or selecting it from the drop-down calendar. You cannot enter a future charge date.
Amount: The system will pre-fill this field based on the calculation for the Late Charge Method set for the community/funding program group. You can enter an amount less than the amount calculated by the system, but you cannot enter a higher amount than is allowable and calculated by the system.
Note: You may enter a note of explanation. This field is optional.
Click Finished.

An Overall Status window will pop up with a Passed or Failed message and display any GL entries that were created.

If it failed you may need to make a correction or contact Bostonpost Client Support at myMRI or contact a Client Support Analyst directly at (877) 579-8896 for assistance.

If it passed click Close.

Expected Result:

The Late Charge will appear in Event History and the Open Items section.

This task will only appear in the Tasks list if there are past due receivables for the household based on the Late Charge Method that is set-up for the community/funding program group. Which receivables types included and the late charge amount are determined by the Late Charge Method that is set up for the community/funding program group. For instance, if the Late Charge Method for the community/funding program group is set up for Rent only, and the only past due items that appear in the Open Items section of household's Receivables tab are types other than Rent, then this task will not appear.

Frequently Asked Questions:

Q. Where do I set up Late Charge Methods?

A. Navigate to Property Manager Menu -> System Administration -> Maintain Lookup Tables -> Late Charge Method

Troubleshooting:

If a Late Charge method is set up, but this task is not performing as expected you may need to assign a Late Charge Method for the community and funding program group. Navigate to the Community’s Rent Tab and if no Late Charge Method is assigned choose one from the drop-down list and click the Save icon on your tool bar.