Our system allows you to automate late fees for your invoices. Money talks and sometimes a late fee can be the best motivator to getting paid on time! Here is an example of what you would see in the Late Fee section of our website.
We provide a lot of flexibility with the late fees so lets break it down. You will see the Add Late Fee button on the right. When you click that you will get a popup to customize the late fee to what you need. You can set the Days Past Due, which will tell the system when to trigger the initial late fee. With Recurring Fee Schedule you can set the number of days until the late fee triggers again. So if you set Days Past Due to 15 and Recurring Fee Schedule to 30, it will trigger the first fee when the invoice is 15 days late, then it will trigger the fee again 30 days after the first late fee. It will continue to recur the fee every 30 days until the invoice is paid.
Next you will see the Fee Type. Here you can set it to Late Fee Amount, which is a flat rate. Late Fee Percent, which is a percentage of the total invoice. The higher of the two does exactly what it says. And both late fee & percentage is also self explanatory. Below you can set the Late Fee Amount and the Late Fee percentage. Once you have everything you need, click the Save Late Fee button.
If you've group your customers into different Schedules, you can also give those Schedules their own late fees. To do so just click on the drop down menu on the top right and select the Schedule you would like to apply a late fee to. After selecting the Schedule add the desired late fee in and you're all set!
At the bottom you can see your recently applied late fees under Recent Late Fees. That's all for Late Fees, if you have any questions please reach out to our support team.