Admin/Early Payment Discount and Late Payment Fees

Admin Settings: Early Payment Discounts & Late Payment Fees

A service provider can configure the system to automatically apply early payment discounts, late payment fees, or both. These settings are global and automatically apply to all new accounts created in the system.

These settings are all found under the Admin > Settings > Discounts & Fees tab in Cumulus.

Early Payment Discounts

The early payment discount is applied when these business rules are met:

• the payment(s) applied against an invoice result in the outstanding amount of the invoice is zero.
• the outstanding amount on the invoice is zero on a date prior to the date the invoice is due.

Late Payment Fees

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are applied when a payment is applied against an invoice and the invoice outstanding amount is reduced to zero. 

This means for example if a payment is initiated before the due date, but clears after the due date, a late payment fee would still be applied.

At this time there is no functionality to arbitrarily apply the fee once the invoice becomes overdue, though it is being discussed with the developers with no current ETA.