Late Fees – Setup & Execution

This guide explains how to configure, preview, and generate Late Fee invoices in SIRE integrated with Sage Intacct. It covers setup requirements, configuration options, processing steps, calculation rules, and how dates are applied in late fee calculations.

1. Overview

Late Fees allow you to automatically charge tenants for overdue payments based on property, lease, and billing configurations.
You can preview potential charges before generating invoices to ensure accuracy.

2. Prerequisites

Before running the Late Fees process, ensure the following are correctly configured in Intacct and SIRE:

Property Setup

• The property must be Active and linked to the target company.

• The property’s last late charge date must be either earlier than the new cutoff date or unset.

• Relevant order entry items should be marked Subject to Late Charges. Only these items (and optional subtotals/taxes) are included in calculations.

• If the option Include invoice subtotal in late charges is enabled, subtotal and tax lines are also included.

• Properties configured with Posting By = Entity will use the entity ID instead of the property ID when fetching invoices.

Lease Setup

• Only Current leases are evaluated.

• Each lease must include at least one late charge step.

• Configure the following lease-level options:

  • Process By: Determines whether the fee applies to the total charge or remaining balance.

  • Minimum Lease Balance: Late fees are skipped if the total delinquent balance is below this threshold.

  • Suppress Charge Under: Fee lines below this minimum amount are excluded.

  • Exclude Paid Late Items: When enabled, fully paid items are ignored, even if paid after the grace period.

Late Charge Steps

Each step defines how and when fees are calculated:

• Grace Days: Delay the start of delinquency.

• Frequency: Daily, monthly, or every n days.

• Repeat Factor: Once per delinquency or for each delinquent period.

• Calculation Type: Flat fee, percentage, or greater/lesser of both.

• Amount: Flat value and/or percentage rate.

3. Running the Late Fee Process

Follow these steps to preview and generate Late Fee invoices.

Step 1 – List Eligible Properties

Use the Generate Late Fees screen to view eligible properties:

• Only Active properties with Current leases and configured late charge steps are listed.

• You’ll see each property’s last late charge date.

Step 2 – Preview Late Fees

Request a Preview Journal by entering:

• Cutoff Date: The date through which delinquency is evaluated. This date also becomes the invoice and due date for the generated fees.

• Accounting Date and Transaction Date: Captured for reporting and audit purposes.

• Properties: One or more properties to include in the preview.

The preview groups all calculated charges by property, lease, tenant, and step. Each preview run is assigned a journal ID for later reference.

Step 3 – Review the Preview

Open the Late Fees Preview to review:

• Calculated fee lines by tenant and lease.

• Minimum balance and suppression rule results.

• Calculation periods.

You can use this view to validate which charges will be generated.

Step 4 – Generate Invoices

Once verified, run the Generate Late Fees action:

• Optionally exclude specific lines using the preventGenerationItems list.

• The system creates one invoice per tenant/lease combination.

• Each invoice includes all applicable step results and is dated with the cutoff date.

Step 5 – Notifications and Finalization

• Invoices are automatically delivered to tenants and notifications are sent.

• If no invoices qualify for a property, the system still updates the last late charge date to the cutoff date and notifies you that no fees were generated.

LC_12-31-2025.pdfLC_12-31-2025.xlsx

4. How Late Fees Are Calculated

Eligible Transactions

• Invoices due on or before the cutoff date are considered.

• If Include Subtotals/Taxes is enabled, those lines are included in the balance.

• Depending on the Repeat Factor, either all delinquent invoices or only those since the last run are used.

• Payments are considered up to the cutoff date (or up to today if Exclude Paid Late Items is enabled).

Amounts Used

• The calculation base depends on the Process By setting:

  • Total Charge = Full invoice amount.

  • Remaining Balance = Unpaid portion only.

• Leases below the Minimum Lease Balance threshold are skipped.

Fee Calculation

• The delinquency period begins after grace days and ends at the cutoff date (or payment date if paid early).

• Days overdue are counted inclusively.

• Fee formulas can be:

  • Flat amount.

  • Percentage of the balance.

  • Greater or lesser of flat and percentage.

• Fees below the Suppress Charge Under limit are excluded from invoices.

5. Dates Used in Late Fee Processing

6. Reviewing Results and Troubleshooting

• Use the preview’s flags and calculation periods to understand why some charges were excluded.

• If no invoices are generated, the property’s last late charge date still advances — to rerun for the same period, backdate the cutoff.

• Use preventGenerationItems to skip individual journal rows before generating invoices.

✅ Best Practices

• Always run a preview before generating invoices.

• Regularly verify lease and property configurations to ensure accuracy.

• Use clear naming conventions for late charge steps to make audit trails easier to follow.

• After generation, reconcile late fee invoices in Intacct for reporting consistency.