Businesses in organized industrial zones (OSB) face regular fee payments and related late penalties. When tracked manually, missed due dates, wrong interest calculations, and communication delays are common.
A fee management module lets you define periodic fee items (utilities, common use, etc.), track due dates, and list and report by payment status. You see which fee is due when from a single screen.
Late penalty calculation should be automatic according to zone rules or contract. The system calculates the penalty for overdue amounts based on defined rate and period so that the penalty is transparent and manual calculation errors are avoided.