# Finance Settings

This feature allows you to manage the different settings for Finance.

## Access and Navigation

To access this module, go to **Planning** > **Finance Setup** > **Finance Settings** to view all available settings for Finance.

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdkhcpD_H9Io5tvjB8D9Pra2a2couyXAEPqXnm_rRdntVpJ3-PwBiNFjHzvt5uec9jMYuL5v0hVL22eclCRxPei9MDxoRx5Ktq6HL3RisZvJgs6VpT_mDamLLgLyI_iKMIbL6Nw2VXVxKbOAE_wmcFEDqmy?key=pDzLaUJiRXtYYJ04atRgHg" alt=""><figcaption></figcaption></figure>

If you cannot view the link from the list, check the privilege assigned to your user account or role.

{% hint style="danger" %}
Contact your school’s system administrator to request view or edit access if you cannot access the rights management screen.
{% endhint %}

## Overdue penalty amount computation

This enables/disables the accumulation of the penalties inputted in Payment Schemes. Toggle it ON or OFF, and the setting will be saved automatically.

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeFPMseYwnMsoGu2vYQ6k65kbjXN6NCkfJ7DUIyKBTDBEMlluLqEwQYEPyYqyvR-kSykMzybv5E1YBVn2Hr7dg8jqJhXrkvcSkmaYPc8OVE4xEYiFcIxvTCxF8Cd0Y_AwyiG_1J4__wEtvI1nbih6MUx6qG?key=pDzLaUJiRXtYYJ04atRgHg" alt=""><figcaption></figcaption></figure>

How to Enable/Disable Accumulation of Overdue Penalties (please refer to the image below):

* **1st Payment** - Student/Guardian is due with 25% of the total amount and must be paid by 07/04/2019. No payment was made by the due date.
* **2nd Payment** - Student/Guardian is due with 50% of the total amount **AND** 2000 penalty from the 1st Payment and must pay by 09/15/2019. No payment was made by the due date.
* **3rd Payment** - Student/Guardian is due with 75% of the total amount **AND** 2000 penalty from the 1st Payment **AND** 4000 penalty from the 2nd Payment and must pay by 09/15/2019. No payment was made by the due date.

{% hint style="warning" %}
Penalty will apply immediately after DUE DATE. See [Payment mode](/product-guide-k12/admin-home/planning-module/finance-setup/payment-scheme-setup.md) for more information.
{% endhint %}

Sample Payment Scheme:

![](/files/-M5tfSYvkbF2ZXdGcHW7)

## Minimum Reservation Payment

This feature sets the default minimum reservation payment.

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeosFBfBC7wgmX0_tbw1kwHAgWV_0x1jLi2iD-dbag6-zMb9Gdh6J2WNN35BWkaJa984DPbW-LjBO0kvLWgs_EmRni3DqJLiYxEmq_T-5vzL46paz4iinb5fIlERsho_NEQj84GLaHtOCXcjR25OU6tTMko?key=pDzLaUJiRXtYYJ04atRgHg" alt=""><figcaption></figcaption></figure>

You can still record an amount lower than the set value; this only establishes the default when entering a reservation payment.

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcet7MrJxY4iM73vw19keT-Ui6JetyA0Bmlv_9E0qUdaUgIYYpjp3bp-F5RoQHKW568H-H0bSuNWU02nUQNkLMbTyqZx7oN5hBpfgjFMkOaNK3s_TMPkO3-kW69OH95ix7aHY0CH9cMC99q71owTlLB6c1W?key=pDzLaUJiRXtYYJ04atRgHg" alt=""><figcaption></figcaption></figure>

## Daily AR Code

You must set the AR Code to record a payment using Accounts Receivable (AR).

{% hint style="info" %}
This code resets daily. Please ensure it is updated to accurately reflect in financial reports.
{% endhint %}

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXduCO8W2s3qH2ePqupKP9JfqbeBKSoXVLPscur2kSHNM_Al_B2YeRbydI0cZJDZzZiolCHsWOuBh-z7VUoflkD-xOlMuCcGruVBm2PFLLqD0FNi0EtW41VnFC9bQZz781AWvM3hMLarOxtgY2aeCtprfK-F?key=pDzLaUJiRXtYYJ04atRgHg" alt=""><figcaption></figcaption></figure>

## Fold In Additional Charges

Schools can choose to either include additional charges from the payment scheme in the total payment due or list them as separate entries in the assessment.

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeyrQrUpNZ6hs-d2U1mz5WOcsXM--9sZjySR8sNoUhphQe1g4AwJcXQu6royXK4iguajy0aGayaqZOWYtfl6wdVDAFzjBeHvKobXv-iTy5ylH5JC8OddxZ_sgsOAVbzWWukuRmN7j7Z45sm96exJ7ZmVMI1?key=pDzLaUJiRXtYYJ04atRgHg" alt=""><figcaption></figcaption></figure>

{% hint style="warning" %}
Toggling ON or OFF the Fold In Additional Charges will require existing student accounts to be reassessed individually
{% endhint %}

When enabled:

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfkposjO5xc6S-2PRCaSaQpKM3ZMS0WyrXIg1MbXNC7DlLr5e90aKQSNmvRbovMmToQf_a3TPxsx2-7rurTb-AZpfd2eZgsyo_JzCAbL3VPYZuc44ubCoxy0z7kbZjT0gbPN_whVhcVE4TEn09GAc5QqV5_?key=pDzLaUJiRXtYYJ04atRgHg" alt=""><figcaption></figcaption></figure>

When disabled:

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeOLTQ8RBfcTX3JqUO4t1IW5I6iRTXfJkPUldC_GD3HfQUUTbebRLegZc8nQnEC8i5lJxBEInfyScydv4Bu4-UnkrP-oL8BMP497mRejLIh89OyJvtN8JO4GUQjO1_he_scmq2sLRtBaOH7n0tNVjy9Pu2T?key=pDzLaUJiRXtYYJ04atRgHg" alt=""><figcaption></figcaption></figure>


---

# Agent Instructions: Querying This Documentation

If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://info.edusuite.asia/product-guide-k12/admin-home/planning-module/finance-setup/finance-settings.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.