Allow option to add late fee percent if not paid
Would be great to allow a late fee (e.g. 1.5%) to the invoice when payment is not received. Then we can manually resend the invoice with the updated amount each term (e.g. NET 30). It might be best to not have it automatically do this because we may forget to mention that we received payment by check in the mail...
Or can this all be done manually? I imagine there would need to be enough flexibility with the invoice document to include a late fee and a new date...
Chase Casey commented
I agree with this idea. Having the option to automatically apply a late fee would improve the collections process. Additionally, a reminder email should automatically send based on the payment terms.
For example, if you have a customer setup for Net30, a reminder email sends on 25th day. Within the email it would explain the late fee. On Day 30 we should receive a notification email of the lack of payment which would allow us to resend with the late fee applied.