An automatic late fee was created to help you save time. In this article, you’ll find some automatic late fee processes. And also answers to frequently asked questions about how automatic late fees work in QuickBooks Online.
Automatic late fees
Some small businesses apply late fees or finance charges on late invoices to promote their customers to pay on time. QuickBooks Online can automatically calculate late fees. And add them to late invoices as a line below Product or Service.
How to set up late fees
To set up your non-payment late fees in QuickBooks Online you must be logged in as the Master Administrator or Company Administrator.
- Select the Gear icon on the Toolbar >> choose Account and Settings.
- From the Menu >> Select Sales.
- Click on Late fees. Check the box to turn on late fees.
You can specify the fee type, amount, grace period
Amount of time you give your customers to pay without incurring late fees or interest. It can be used in addition to your net terms.
To set a custom fee for an individual customer:
- From the left menu, select Salesor Invoicing.
- Choose the customer you would like to customize. Then select Late Feesfrom the table. You have two ways to customize:
Waive late fees
This will prevent QuickBooks Online from ever calculating and applying late fees on an overdue invoice for this customer.
We really hope that this post managed to resolve your Late Fee Error on your own for advanced functioning. Our technical team will make sure to find out more such errors you come across.If you still face any kind of issue related to this error feel free to contact QuickBooks Customer Support Number USA @ 1-800-290-0629 as our support team is available 24X7 or you can directly mail us at firstname.lastname@example.org.