Creating a Late Fee Schedule
Let us navigate to the "Late Fees" section by clicking the tab from the menu bar:
To create a late fee, click the "Add Late Fee +" tab on the far right.
Within the pop-up dialogue, the following fields must be completed:
- Days Past Due - Indicates the number of days after the due date that you would prefer to commence the imposition of the late fee
- Recurring Fee Schedule: If you intend to apply a late fee until the invoice is paid in full
- Fee Type - You have four options:
- A set dollar amount
- A percentage of the outstanding invoice
- The higher amount between a set dollar amount and a percentage amount. For example, if the dollar amount is $10.00 but the percentage is $12.50, then the percentage amount will be applied.
- Or you can charge both a set dollar amount and a percentage amount.
- Once you have clicked "Save Late Fee", you will receive the following confirmation box.
This is an outline of your schedule based on the selections you have made.
Within the subsequent two sections, you will find any recent charges or pending future charges.