HDSchool penalty module allows you to set penalty rules for calculating penalties
for late fee payments or overdue of library items as per your school rules. You
can set different penalty rules that get applied daily, weekly or monthly for different
fee groups and interest (fine) can be calculated in amount or percentage.
This module is integrated to HDSchool-Receive Fee module and helps you to calculate
penalty at the time of receiving fee from student. Receive Fee module automatically
calculates the penalties if any based on fee structure applied and rules specified
for penalty calculation.
For example, you can set penalty rule for fee group ‘Group A’ as follows:
- Payment term days as 3 days.
- Interest as 5%.
- Interest period segment as Daily.
If fee due date is 01/01/2016 and if student fails to pay within this due date,
after the completion of payment term days (3days) , penalty amount (5%)on total
amount will be calculated daily.
This feature allows you to:
- Flexibility to define your own penalty.
- Penalty can be applied if library book is returned late or if fees are not paid
by the due date.
- Calculate penalty by Simple or compound interest.
- Define how interest needs to be calculated i.e. daily, weekly, monthly or yearly.
- Apply penalty to all or specific Fee groups.
- Receive penalty amount at the time of receiving fees.
- Apply penalty to Library items through library settings.
Read our tutorials on Penalty Management: