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cwermers
January 13, 2019
Question

In QBO is there a way to set up automatic late fees on an invoice? I have a client that charges 3% on day 31. Thank you for your help.

  • January 13, 2019
  • 3 replies
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3 replies

SophiaAnnL
SophiaAnnL
January 14, 2019

QBO has rolled out a beta test on automatic late fees, cwermers.

 

At this time, not all QBO accounts have the option to activate the Automatic Late Fees feature. Rest assured our developers will expand this option to more customers in the coming months.

 

You can follow these steps to turn this on:

  1. Log in to QBO as the Master or Company Admin.
  2. Click the Gear icon.
  3. Select Account and Settings.
  4. Click the Sales tab on the left panel.
  5. Click the pencil icon in the Late Fees section.
  6. Check the box to turn it on.
  7. Enter the Type, Amount, Frequency, and Grace Period.
  8. Click Save, and then Done.

You can also refer to this article to learn more about applying automatic late fees in QuickBooks Online.

 

Please get back to me if you need anything else.

    S
    shellwe69
    November 1, 2019

    Is there an update on when this will be available to all in QBO? I would really like to have this option available to me (as I'm sure many others would too).

     

    Thanks-

    Shelly

      JasroV
      JasroV
      November 1, 2019

      I understand how important this is to you, @shellwe69.

       

      having this feature is beneficial to you and other customers. As my colleague stated above, our product developers is working to expand this feature in the coming months. While we don't have a specific time frame of the complete roll-out of the feature. Let's manually enter a late fees to the invoice while waiting for the automatic feature to be rolled out. Let me guide you how.

       

      In your QuickBooks Online (QBO) account:

      1. Click the (+) Plus icon.
      2. Under Customers, choose Invoice.
      3. Fill out the invoice with the necessary information.
      4. From the Product/Service drop-down, choose the late fee item. (If you don't have an item for additional charges, select the Add new from the Product/Service item drop-down. Here's an article you can check for more details: Add Your Inventory Products).
      5. Enter the amount of the charge.
      6. Select Save and Close.

      Here's an article you can read for more detailed steps: How to Enter Late Fees or Finance and Service Charges on Invoices.

       

      Also, I encourage you to visit our QuickBooks Blog page to learn what's new and what's coming in QuickBooks Online (QBO). 

       

      As always, don't hesitate to reach out to us if you need further assistant. I'm always here to help.

      K
      kiml3
      September 22, 2021

      Our customers sign contracts and they do not all have the same late fees built in.  Is there a way to charge a customized late fee for each customer?  We have tried to set this up at the customer level, however, the company setup overrides the customized set up for each customer.  Every customer is being charged the same % late fee.  What am I missing?

      R
      rvrfrf
      September 22, 2021

      Thanks for becoming part of the Community, kiml3.

       

      You can set customized late fees for individual customers from their profiles.

       

      Here's how:

      1. In your left navigation bar, go to Sales or Invoicing.
      2. Choose Customers.
      3. Pick the customer you'd like to customize.
      4. Click Late Fees.
      5. Decide how you want to customize. You can either choose Waive late fees, which prevents them from being calculated and applied to an overdue invoice for the customer; or to Override the default late fee settings, which creates a new set of rules that only apply to the customer being worked with.User-added image

       

      If your late fees are being overrided, it's possible you've turned on Waive late fees, which will prevent them from being calculated for the particular customer. You can use the steps above to check if it's turned on, and turn it off if necessary.

       

      I've also included a detailed resource about working with automated late fees which may come in handy moving forward: Set up & apply automatic late fees to invoices

       

      Please feel welcome to send a reply if there's any additional questions. Have a great day!

      C
      capstone trucking
      August 15, 2023

      How can i change the grace period frequency to 10 days? 

      T
      ToniMarie1
      January 11, 2024

      I have the same question - I need it to charge my client on day 10 past due. I only see 1, 5, 7, 14, 30 days. I already have contracts with the 10 day grace period set.

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