The late fee will be increased per the terms until the payment is made.
The compounding late fee is based on the invoice terms (not the grace period).
Create 0 Term invoice (invoice date equals due date) with the late fee amount and the late fee won't compound and recur.
If you set terms, the let fee will compound at term date.
- $30 fee 10 days after invoice
- Then 10 days after that will be another $30
You may add a late fee to an existing invoice on the second page of an invoice draft. The option is on the far right side.
You may adjust terms to determine best fit.
Percentage or flat fee.
Once you send the invoice you will be able to view the terms on the bottom.
Your customer will see these as well, acknowledging that a fee will be assessed if payment is not remitted within the terms.