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Fines Configuration

Introduction​

Fines Configuration in PayX is designed to automate the application of penalties for late payments, ensuring students are aware of and adhere to the financial deadlines set by the institution.

Purpose​

Automated fines configuration aids in maintaining financial accountability among students, deterring late payments. It eliminates the manual tracking of overdue payments, thus enhancing administrative efficiency.

Access this through Settings > Fines Configuration in the PayX module.

Adding New Fine Configuration​

  • Click Add New Configuration to open the form.

Understanding the Form Fields​

  • Batch, Course, Quota: Define the group of students this fine applies to.
  • Fee Type: Specify the type of fee to which the fine is related.
  • Year: Indicate the academic year for the fine.
  • Lateral Entry, Has Scholarship: Check if these apply to the students being fined.
  • Calculation Type: Choose how the fine is calculated (fixed amount or percentage).
  • Amount: Enter the fine amount or percentage.
  • Schedule this fine: Option to set a schedule for automatic fine application.
  • Due Percentage: If using a percentage, specify the amount here.

Editing and Deleting Configurations​

  • In the Fines Configuration page, each entry can be edited or removed as needed, allowing for easy updates to fine policies.

These settings ensure fines are applied accurately and consistently across the student body, reflecting the institution's financial policies.