Navigation:  Sales Invoices > Late fee charges

A late fee charge is a charge levied against a customer for not paying an invoice by its due date.

 

When creating new sales invoice, you can specify whether late fee charges apply and if they do, you can set monthly interest rate.

 

If sales invoice is not paid in full by its due date, MYBOS will automatically create a transaction to charge customer interest on the following date. The interest is calculated on outstanding amount which can include past late fee charges.