Contents

Fee Schedule – Age Based

Accounts set up with age-based fee schedules accumulate collection fees based on an account date range. Calculations increase or decrease percentages charged for collections on accounts at specified aging intervals. For example, you can set a certain percentage of the amounts collected to charge for the first 30 days of holding the account, while setting another percentage to use for the next 30-60 days.

Fee Schedules window - Age Based

Select Fee Schedule: Fee schedule to use.

New: Opens the Fee Schedules dialog box to allow you to add a fee schedule code.

From: Date to use to start calculating fees.

Received Date: Calculate fees starting on the account placement date.

Client DLP: Calculate fees starting on the date of the last payment made to the client.

Client DLC: Calculate fees starting on the date of the last charge made to the account.

Our DLP: Calculate fees starting on the date of the last payment made to your organization.

[Blank]: Calculate fees starting from a user-defined date. These three options represent the user-defined values from your organization's control file.

To: Date to use to stop calculating fees.

Entered Date: Calculate fees up to the payment entry date.

Received Date: Calculate fees up to the account placement date.

Client DLP: Calculate fees up to the date of the last payment made to the client.

Client DLC: Calculate fees up to the date of the last charge made to the account.

Our DLP: Calculate fees up to the date of the last payment made to your organization.

[Blank]: Calculate fees up to the user-defined date. These three options represent the user defined date fields from your organization's control file. The option names are based on how your control file is set up.

Fee Cap Percent: Percent of the original balance at which to stop applying fees to the principal bucket once you recover that amount.

Fee Cap Amount: Amount of the original balance at which to stop applying fees to the principal bucket once you recover that amount.

Note: If the client has a fee cap amount, the system uses the lesser of the two fee cap amounts.

[Money Buckets]: List of money buckets set up for your agency. These buckets group dollar amounts associated to an account (for example, principal, interest, collection costs).

Alloc%: Percentage of the payment amount, or remaining payment amount in the case that the system allocates other buckets first, to allocate toward collection costs for each money bucket.

Invoice PU: If selected, the system includes on the client's invoice payments that customers send to your organization.

Invoice PC: If selected, the system includes on the client's invoice payments that customers send to your organization for accounts that an outside collection agency or attorney holds.

Invoice PA: If selected, the system includes on the client's invoice payments that customers send to outside collection agencies or attorneys that hold the accounts.

Apply Priority: Determines the order in which to apply payments. The system applies payments received to the money bucket with a priority of "1" first and subsequent buckets in numerical order.

To: The first To column is always active, and indicates the first (or only) date range to use for the specified fee. For example, if the fee is based on the Received Date and Payment Entry date and the range is 0 to 29, the fees apply during the first thirty (30) days that your agency holds the account. If this fee is the only fee that applies, accept the default of 0 to 100000000 (no other fee schedule columns are active).

Off/On: Turns on or off the ability to set up a subsequent column of fees to apply. To set up more fees, click Off/On and specify the next range of days to use for applying fees. Based on the To example, the next date range starts at 30.

[Percent]: Percentage to use as the fee for each money bucket for each active date range column. For example, if you specify 50%, all payments received that apply toward the Principal and Interest buckets generate an agency fee of 50% of the money collected.