What’s new?
- You can now attach late fees to your invoice
- Available in global settings and as a well as invoice settings
How to use it?
- To set up late fees for all invoices, go to invoice settings and then select payments.
The configuration here will serve as a blueprint for all invoices. However, you can also change it at an invoice level.
To enable late fees for an invoice, go to the “Late fees configuration” menu in the top right. When you turn it on for the first time, it applies the global setting, which you can adjust as needed.
We have provided many options for adjusting late fees, including different intervals, grace periods, flat one-time costs, and maximum chargeable fees.
Once an invoice is overdue, late fees will be applied. If an invoice has a payment schedule, each schedule’s due date will be considered.
“Why did we build it?”
- This will help users to charge any delays in payment from customers in the form of late fees.
- It can unlock many new possibilities, like a discount on timely payments, which are taken back past the due date in the form of late fees.
Note: When a customer is charged a late fee, they will receive an email and a payment success email stating the late fee policy.
