Cancellation fee
The Cancellation fee is a sum of money that the guest needs to pay if the reservation is canceled after the cancellation deadline.
Cancellation policies can be set up in the Rate groups section and can be added to the reservation from the Status tab on the Reservation module.
Canceled Cost
The Canceled cost is the lost revenue from cancellations. It is not influenced by your cancellation policy, it simply shows the total potential revenue you could have generated without the cancellations. The Canceled cost of a reservation can be found in the exported Reservation Report.