Late Fees
Automatically calculate and apply late fees
The Late Fee Manager provides extra encouragement for customers to pay invoices on time, without requiring any additional effort from you.
Create a New Late Fee
- On the Settings page, click Late Fees.
- On the Late Fees page, click New Late Fee in the top-right of the screen.
- Enter the Late Fee data.
- Click Save on the top-right of the screen.
Late Fee Data
| Field | Description |
|---|---|
| Description | This is the description shown on the line item in the invoice. |
| Apply Late Fee To | Late fees can be applied to invoices (based on invoice due date) or to payment plans (based on payment plan due date). |
| Days Past Due | The number of days past due the invoice or payment plan must be to trigger the late fee. |
| Late Fee Type | Choose how the late fee is calculated. Late fee percentages are calculated on the original balance only, non-compounding. |
| Apply Late Fee As | A late fee can be applied as a new invoice or added as a line item on the invoice that triggered the late fee. If you choose New Invoice, the new invoice is also subject to the late fee rules. |
| Amount/Percentage | Enter the amount and/or percentage for the late fee. |
| Item | Select the product or service you want associated with the late fee revenue. Note: When you are connected to an accounting system, products and services can only be created in the accounting system and synced. |
Enable or Disable a Late Fee
- In the list of customers, select one or more customers.
- At the top of the screen, click Batch Actions.
- Select Enable Late Fees or Disable Late Fees.
- Click Save in the top-right of the screen.
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Updated 7 months ago