# 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.
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.
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](https://info.edusuite.asia/product-guide-k12/admin-home/planning-module/finance-setup/payment-scheme-setup) for more information.
{% endhint %}
Sample Payment Scheme:
## Minimum Reservation Payment
This feature sets the default minimum reservation payment.
You can still record an amount lower than the set value; this only establishes the default when entering a reservation payment.
## 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 %}
## 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.
{% hint style="warning" %}
Toggling ON or OFF the Fold In Additional Charges will require existing student accounts to be reassessed individually
{% endhint %}
When enabled:
When disabled:
