We have a standard 1.5%/month (18%/annum) late fee as our default in QBO. However, I want to have a different late fee calculated for one of our largest customers. I have chosen the customer, gone to the Late Fees tab and Enabled the late fee. I chose "Customize" and when I went to enter the percentage, I get the error message of "Invalid Value" and I cannot save the new finance rate. What do I need to do to get this to work?
Peg Davis
Parsons Roofing
Good afternoon, @pdavis3437.
It's great to see you back in the Community. Let's work together to get this resolved.
The reason may be due to needing a zero in front of the decimal. Here is the way it would be entered:
"0.83"
For additional details, check out this guide about late fees:
Set up and apply automatic late fees to invoices
This should do the trick. Don't forget to let us know if this worked for you or not. I want to ensure that you get this taken care of. Have a great day!
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