Best way to add late fee charges

Setup & Support
#1

Wondering about the best way is to keep track of late fees in Stessa. Should I add a charge in the tenant ledger, or add it as a manual transaction? I imagine I’ll have to split out the late fee portion of the payment once it comes in to assign it to the Late Fee category, but just want to know for sure.

I remember I answered a question somewhere about how to calculate late fees. I set it to 0, since I don’t enforce them all the time… :frowning: How is that information used in the system, and where can I find that screen again?

#2

Yes, the best way to add a late fee is to simply add it as a “charge” on your tenant ledger, which can be accessed via the Leases & Tenants page. Just click on the tenancy and then scroll down to find the tenant ledger.

Late fees and grace periods can be set up via the input screen that appears when you click on a lease date or amount for a specific tenant. Let us know if you can’t find it!