Late payment fees

[aerofuego]

I have one quick question, Is the late payment fee part of the Payments table or does it belong to a different table?

I have already posted here http://www.access-programmers.co.uk/forums/showthread.php?t=122393.

Thanks

 

[Moniker]

I would guess that a late payment is a calculation based on the amount of the original loan. For example, if you loan someone $500 and they pay back $50 a month, then a late payment might be $20. If you loan another person $5000 and they are paying $100 a week, then a late payment of maybe $30 would be more appropriate.

If you do in fact use a calculation of some sort to determine the late payment, then you wouldn't want to store it anywhere -- calculate it on the fly. If on the other hand you have a set late fee that may be different for each loan, then storing it in the payment table is fine. If the late fee is the same regardless of the loan type or amount, then just set it as a constant and don't store it in the table at all.

 

[aerofuego]

Thanks moniker for your reply.

This will be as you mentioned in the first paragraph.

Now, lets say someone has to pay me $50 every month with a late fee of $20. If that person doesn't pay me for three months, then he/she will owe me the following:

Payment: $150
Late fees: $ 60

Total Amount Due: $210

How can I show this information in the report?

Thanks in advanced.

 

[aerofuego]

need help on this one

If anyone could give me at least some directions as to how I can accomplish this, I would appreciate it.

Thanks.

 

[KeithG]

We are not able to answer because we don't know the desing of your database.

 

[aerofuego]

database design

KeighG, thanks for the reply.

OK, my database is setup as follow:

tblCustomers
cusID
cusFName
cusLName
CusPhone

tblLoans
LoanID
cusID
LoanDate
LoanAmount
FirstPmtDate
LatePmtFee
etc...

tblPayments
pmtID
LoanID
pmtDate
pmtAmount
LatePmtFee
etc...

Let me know if you need more information.

If you can point me in the right direction to do this (the information that I need to see in the report), I would appreciate it.

Thanks.

 

[KeithG]

I you suggest modifying tblPayments. I would take away field Late Fee and add a field of Payment Type. Then create tblPaymentType ( fields; PaymentID, Payment Type). Then create a payment type of Late Fee. Know you can add a late fee to a loan by creating a record in tblPayments for a late fee.

 

[aerofuego]

sound good

How can I achieve what I wrote on post #3 based on your suggestion?

 

[aerofuego]

No solution, yet.

Can someone help me out with this problem? (see post #3).

Now, how can I do this based on Moniker and KeithG posts?

Thanks.

 

[aerofuego]

Help

So, nobody knows how this can be done?

I thought someone would be able to at least give me some directions as to how this can be done.

Thanks.

 

[KeithG]

How can I achieve what I wrote on post #3 based on your suggestion?

Group the report by CustomerID

 

[aerofuego]

Ok

I'll try that, KeithG.

Thanks

 

[aerofuego]

not the solution

KeighG,

I don't think what you suggested is the solution.

This is basically what I'm trying to accomplish:

Report's Header
Late Fee: If the late fee is $10, how can I show $20 here?)
Regular Payment:
Amount Due:
Due Date:

Pmt# Pmt Date Payment Late Fee (if cust. pay, I enter Late Fee)
1 2/3/07 50 0
2 2/10/07 0 0
3 2/17/07 0 0

Thanks.