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Collection Fees

Main Menu - Billing - Collection Fees

This is for leases only.

Collection Fees are tracked separately from the lease's billing and payments. It is to be used to input those fees and charges directly related to debt collections, such as repossession fees. 

Collection fees may be added to the lease's overall asset through this screen as well.

The grid will convey the collection fees for this lease. You may not edit this information, but you may delete a record by clicking on it and pressing the  button above the grid.

Press the button to add a new collection fee or payment. Data is entered in the light green box on the right. Save your changes with the button. Use the Description Quick Picks to fill in the Description with the most common collection fee items.

The total outstanding amount of the collection fees may be added to the lease's asset via the Post "Z" Principal Adjustment for Total button. This will post a "Z" type payment adjustment to the lease. It will also post a credit to the collection fees screen for the same amount, bringing the total back to zero. This is done in order to prevent doubling up on the type "Z" adjustments, should you post another one in the future.

More information on type "Z" transactions may be found in the Payment or Adjustment Post help topic.

Appears on Reports ...
Payoff Worksheet
Repossession Summary as Unpaid Collection Fees
Vehicle Termination Worksheet as Outstanding Collection Fees

Billing Collection Fees