Overview

The Auto Create Late Payment Invoice optional solution in the Meshed Platform creates auto miscellaneous invoices as Late Payment if the Tuition Fee invoices are overdue by defined number of days.

Functionality

This feature auto creates miscellaneous invoices as Late Payment. It includes the following functionality:

• If student(s) Tuition Fee invoice is overdue by more by than defined number of days, the system auto creates Miscellaneous Invoice(s). The invoice details will be as below.

  • Transaction Type: Miscellaneous

  • Payment Type: Late Payment Fee

  • Course Information: Same as the course of the associated Tuition Fee

  • Due Date: Current date/ Date of creating this miscellaneous invoice.

  • Total Amount: As defined by the college.

  • Invoice No: System auto generate with next available number in the database.

  • GST Included: No

Notes

• The college can define the certain number of days and the miscellaneous invoice amount as per their requirement.

• Only one late payment miscellaneous invoice will be created per unpaid tuition invoice as per the above logic.

• The miscellaneous payment type of Late Payment Fee MUST be setup in the system by the college.

For example, if a college want the system auto-creates late payment invoices for the tuition invoices which are overdue more than 7 days, the scenario will be as follows: If a student has a Tuition Invoice (#1111) due on 1st January and is not paid, then system will create a new miscellaneous invoice on 8th January as a “Late Payment Fee” (Invoice no. different and auto system generated) and due date will be on 8th January.

Out-of-Scope Requirements:

Any additional requirements that are not in the scope of this standard feature can be discussed and customised if deemed feasible. This will incur additional charges.

For example, adding a logic to create auto miscellaneous invoices once every x day for the same unpaid tuition invoice until it reached maximum late payment fees determine to be customisation and the estimation will be based on the defined rule by the client.