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Home > Training > Payments > Payments Main Menu > Assess Late Fees in Bulk
Assess Late Fees in Bulk
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You can assess late fees in bulk in Payments > Settings > General. There are two options:

               1.Nightly Late Fee Check checkbox
               2.+Add Late Fees button



IF you check the Nightly Late Fee Check checkbox, the system will automatically apply late fees on a nightly basis across your whole portfolio. It will check for late due payments according to the Days Grace Period found in each loan’s PaymentLoan Details > Borrower Fee Settings section and assess a late fee if needed.



IF you use the +Add Late Fees button, you will manually assess late fees across your portfolio based off each loans’ Loan Details > Borrower Fee Settings section at one time. 
                 ***FYI - You can go back at a later date and reassess late fees with +Add Late Fees button, and it will not apply a second late fee if one has already been assessed. For example, you have two loan programs, one has payments considered late after the 10th of the month, and the other program considers payments late after the 15th. You can push this button to assess late fees on the 11th and the 16th - it will not apply additional late fees if one has already been assessed.***

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