How do I create a late fee?
Late fee templates are created and assigned to customers to automatically generate late fees when invoices are not paid on time
1. Click on "Late Fees" on the Menu, that will be added to your invoices from your Accounting software
2. Click "Create a Late Fee Template" to fill in the template.
3. For Late Fees, you can set how long an invoice may remain unpaid before a fee is applied. In Nagging Panda, you can choose either a flat fee or a percentage of the invoice amount. You can also set the frequency for how often the fee should be added to the unpaid invoice, specify the grace period you want to allow your customer, and decide whether to add tax to the fee. Additionally, you can choose to create a new invoice for the late fee (child invoice)
4. Give your template a name and complete the body with your desired content. The late fee will then be automatically applied to the invoice on the date set by your Accounting Software.
5. Click "Save"
6. Click "Confirm", your template will be saved on the Late Fee list.