Payment Terms (Apply as Batch)

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Description

Run the batch process to apply late payment terms for penalty, interest, and discounts. This is a required action if penalty and interest as well as any discounts applied are a receivable when due (and the application setting indicates that it true), or if your jurisdiction uses the web export.

Otherwise, run it periodically, for example monthly, to improve the efficiency of penalty and interest calculations.

Steps

1. On the Apply Payment Terms (Batch Process) screen, make a selection from the Property type drop-down list.

2. Click to select an item in the Date type list, which determines the tax bills to calculate. The default is Due Date, which is the earliest due date to determine if the tax bill becomes part of list.

3. Enter a number in the Offset in days field to indicate how many days from the current date you want the effective date to be when the process runs.

   For example, if you want to calculate penalty and interest as of Tuesday, but do not want to wait until Tuesday to calculate it, you can start the process on Monday by entering 1 for the offset in days.

4. Click Schedule in the Command Item bar.

   • On the Schedule Batch Process screen, make a selection from the Occurs drop-down list and specify a time.
   • Enter the days and duration for the batch process.
   • Click Save.
   • Click Previous to return to the Apply Payment Terms (Batch Process) screen.
   • Click Close to end the task.

5. Click Run to apply the penalty and interest right away.

   NOTE: The schedule date is also the effective date; the exception is when using offset in days. Otherwise, penalty and interest is calculated for all penalty/interest dates through the schedule/effective date.

   This process generates two reports:

• Batch Penalty and Interest Report, which shows details by PIN, including tax year, bill number, balance due, penalty change, and interest change as well as class totals, roll type totals, and grand totals.

• Batch Penalty and Interest Skip Report, which shows details of penalty and interest items that were skipped by PIN, including tax year, bill number, reason (for skip), and total skipped.

6. Click Close to end the task.

Dependencies, Prerequisites, and Setup

A/R

• Batch Collections – For example the nightly web export and remittance export need the batch application of penalty and interest to be completed before they are run.

Application Setting

When the Include secure/unsecure assignment in batch PI calculation application setting is set to True, Batch Penalty and Interest calculation AND Collection Type Transfer processing occurs. If it is set to False, only the Batch Penalty and Interest calculation processing occurs. Virtual processing is not affected by this setting.