Penalty fee on interest invoices

Hi ​@Jenny 

Adding a penalty fee to interest invoices in IFS10 and IFS Cloud is not a built-in feature, but you can set it up using configurations or customizations. Here's a straightforward way to do it:

1. Use the Interest Invoice Feature
   Both IFS10 and IFS Cloud can calculate interest on overdue invoices using the Interest Invoice functionality. However, they don't include penalty fees by default, so you'll need to add this as an extra step.

2. Workaround Options

   • You could manually add a penalty fee as an extra charge to the interest invoice.
   • Alternatively, create a custom event or configuration that calculates and applies the penalty fee automatically when generating the interest invoice.

3. Customization (if needed)
   If your setup requires an automated process, consider working with a developer to customize the system. For example, you can:

   • Add a calculation rule for penalty fees.
   • Include this rule in the interest invoice logic.

Does this answer helpful? 

Regards,

Chanuka Doluweera