Can not find the option Late Fees in the Account and settings -->> Sales section of SettingsAdvice please if I want to use that?

Thanks for reaching out on the Community, sjgnet

There's no feature for charging late fees in QBO UK. When following steps online, please check that the Community article you're viewing shows the country flag for your product in the top-right corner of the page. 

Any late fees would need to be added manually by editing the invoice and adding an item line. For further info on late payment fees, click here.