In this article, we will explain you more about how you can add and assign a Late fee to an Invoice/Purchase Order.
A late fee, also known as a late fine or a past due fee, is a charge fine against a client by a company or organization for not paying a bill by its due date.
iOS
This feature is not currently available on iOS and Mac. Soon we are going to add it.
Android
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- Tap on Late Fees under Settings from side menu.
- Tap on Add late fee / Plus button.
- Type Late fee title of your choice.
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- You can keep the Late fee value in percentage or currency. To change percentage to currency tap on % dropdown and select the currency.
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- You can select the Term Type (Once, Daily, Weekly, 15 Days, Monthly) as per your choice just tap on term type dropdown and select a term type.
- Tap Save button to add/save late fee.
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In Invoice / Purchase Order late fee is calculated based on whether Assigned late fee value is in % or currency (fixed/flat rate) and its term type you have chosen such as Once, Daily, Weekly, 15 Days, Monthly. The late fee is calculated on Grand Total of Invoice / Purchase order and is again added to Grand Total itself.
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- To assign late fee to an Invoice/Purchase Order first open the Invoice or Purchase Order to which you want to assign Late Fee.
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- If you have not assigned any due date to Invoice/Purchase Order assign the due date.
- Tap on button of Late Fee.
- Select late fee from dropdown which you want to assign to Invoice/Purchase Order.
Web
Add and Assign a Late Fee
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- To add a Late Fee click on Settings from side menu.
- Click on Late fees.
- Click on Add late fee.
- Type Late fee title of your choice.
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- You can keep the Late fee value in percentage or currency. To change percentage to currency click on % dropdown and select the currency.
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- You can select the Term Type (Once, Daily, Weekly, 15 Days, Monthly) as per your choice just click on term type dropdown and select a term type.
- Click Save button to add/save late fee.
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In Invoice / Purchase Order late fee is calculated based on whether Assigned late fee value is in % or currency (fixed/flat rate) and its term type you have chosen such as Once, Daily, Weekly, 15 Days, Monthly. The late fee is calculated on Grand Total of Invoice / Purchase order and is again added to Grand Total itself.
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- To assign late fee to an Invoice/Purchase Order first open the Invoice or Purchase Order to which you want to assign Late Fee.
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- If you have not assigned any due date to Invoice/Purchase Order assign the due date.
- Click on button of Late Fee.
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- Select late fee from dropdown which you want to assign to Invoice/Purchase Order.
- After selecting late fee from dropdown click Save button to assign it invoice or purchase order.
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