Cumulative fine calculation
How fines are calculated daily on the remaining principal, kept separately, and when they are deducted.
This feature calculates fines on the remaining principal, keeps daily fines separate from it, and deducts fines only after the principal is fully paid.
Requirement: enable Pending Amount with Cumulative Fine in Home → Finance → Finance Settings → General Settings.
Key principles
- Payments: a student’s payments reduce only the remaining principal, not accumulated fines.
- Fine calculation: fines are calculated daily on the remaining principal and kept separate.
- When fines are deducted: only after the principal reaches zero.
- When calculation stops: once the principal is fully paid.
Example
Principal 800 with progressive fine slabs:
| Day | Payment | Accumulated fine | Remaining principal |
|---|---|---|---|
| 1 | — | 5% × 800 = 40 | 800 |
| 3 | 200 | 15% × 800 + 120 = 240 | 600 |
| 4 | 200 | 20% × 600 + 240 = 360 | 400 |
| 7 | 200 (final) | 590 | 0 |
Once the principal is paid, fine calculation stops and the total fine owed is 590.
Learn more: How to set up fines for late payment
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