You can automate your late fees to help motivate past due customers to pay their invoices.
To help you with charging late fees, your InvoiceSherpa account:
- Identifes late invoices
- Calculates the fee
- Assesses the fee by adding a line item to the existing invoice in your linked accounting system
- Creates automated, recurring late fee increments, according to the schedule you define
Late fees work best in combination with your reminder schedule. For example, you might schedule a reminder email to be sent a day or two before the late fee is charged. That reminder would warn the customer that a late fee is about to be charged. Then you might have another reminder scheduled just after the late fee is added to the invoice that informs the customers of the extra charge, as well as remind them that additional late fees are assessed regularly.
The Late Fees screen shows the late fee schedules that you have defined for the selected reminder group, as well as a list of recent late fees that have been charged to your customers. The list can be sorted or searched to find a specific customer or invoice.
To open the Late Fees screen, select the Late Fees option from the left navigation area.
A sample Late Fees screen is illustrated below.
To view the late fee schedule defined for a custom reminder group or work with that late fee schedule, select the group from the drop down list at the top right of the Late Fees screen.