This article will describe how to set up and apply late fees in BillQuick.
1. Open the Project screen and select the project to which you want to apply a late fee.
2. Go to the Detail tab. At the bottom of the screen you will see “Interest on Past Due Invoices” section. You can specify when the bill is considered late by entering the number of days.
3. You can also specify the late fee rate (percentage) that you would like to charge the client. If a payment is only late by a few days the late fee will be prorated. Save your changes.
4. Go to the Invoice Review screen and select the invoices that are past due.
5. Select "Create Late Fee Invoices" from the Tools menu and select the date upto which you want to calculate the late fee.
6. Click on the Calculate Late Fee Invoices button. Late fee invoices are processed and can be printed as invoices or statements.
Note: You can apply a global late fee to all the projects by going to Setting menu, Global Settings-Billing screen.
