How do I get the Payoff Calculator to include a Penalty Fee for my Loan Payoff Calculation?

How do I get the Payoff Calculator to include a Penalty Fee for my Loan Payoff Calculation?

PRE-REQUISITE:  A Payoff Penalty Code must be configured within Administration > System Setup > Codes & Types

How to Use the Payoff Calculator:
1.  Ensure that your Contract has a Payoff Penalty Code set on the Contract Main > Billing screen prior to performing the Payoff Calculation.
2.  Go to Tasks > Customer Service > Payoff Calculator and enter the Contract ID of your Loan.
3.  Populate the Payoff Calculator fields appropriately.
4.  Click "Calculate Payoff".
5.  You will see the Penalty Amount field populate with a Penalty Amount.

The Payoff Calculator will only calculate all of the below are TRUE:
a.  The Contract Main > Billing screen has a Payoff Penalty Code set prior to calculating the payoff.
b.  The payoff is occurring earlier than Maturity, and the Payoff Penalty Code is set to assess the Penalty for the timeframe the Payoff is being calculated for.

To bill the customer for the amount of the Penalty:
1.  Using the calculated Penalty Amount from the Payoff Calculator, go to Tasks > Accounts Receivable > Miscellaneous Billing.
2.  Select the Finance Company where the Contract is booked.
3.  Look up the Contract ID and tab through the field
4.  Ensure the Due Date of the invoice is correct (the date the penalty fee is due)
5.  Ensure the Invoice Date of the invoice is correct (this is the invoice create date)
6.  Ensure the Invoice Code is correct, so the correct invoice document will generate
7.  Click "Add Invoice Detail"
8.  Enter the amount of the Penalty that needs to be assessed (the "Penalty Amount" from the Payoff Calculator)
9.  Select the Transaction Code that needs to be assessed.  This is configured within the Payoff Penalty Code itself (Admin > System Setup > Codes & Types > Payoff Penalty Code)
10.  Ensure the Tax Location is correct, in the event the Payoff Penalty Transaction code happens to be configured as taxable
11.  Add any other additional adhoc fees, if necessary
12.  Ensure the "Bill To Location" is correct for the customer
13.  Ensure the "Remit To Location" is correct for the Finance Company
14.  Click Save
15.  Click "Post". 
        a.  If your transaction codes are Accrual Basis, you'll see GL Entries. 
        b.  If the Transaction Codes were Cash Basis, there will not be any GL Entries.

Where is the calculated Payoff Penalty Amount displayed on the Payoff Calculator?

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