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?
– To configure late fees globally for all invoices, navigate to Invoice Settings > Payments
– The configuration done here will act as the blueprint for all invoices. However, you can change it an an invoice level as well
– To turn on late fees for an invoice, find the “Late Fees Configuration” menu on the top right. When you turn it on for the first time, it takes a global setting which you can adjust as need
– We have provided a lot of knobs to adjust how you charge late fees including various intervals, grace periods, flat one-time fee, and max chargeable fee
– Late fees will get applied to the invoice once it is due. In case an invoice has a payment schedule, the due date of each schedule will be considered
Why We Built It?
– This will help users to charge any delays in payment from customers in the form of late fees
– It can unlock a lot of 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 along with a payment success email stating the late fee policy