Late fees
You can assess late fees when clients don't pay their bills on time. Onvio enables you to set up multiple late fees with various attributes, designate one late fee as the default for new clients, and assign specific late fees to existing clients.
To add or modify a late fee, choose Setup > Late Fees.
To designate a default late fee for new clients, choose Setup > Firm > Time and Billing tab.
To assign a specific late fee to an existing client, choose Setup > Clients, open a client, and click the Billing tab.
For each late fee, you can specify the following criteria:
- Name (required)
- Annual Rate
- Whether to round amounts
- Whether to compound fees
- The number of grace days before a fee is assessed
- The date from which to calculate the fee once grace days have expired
- The minimum balance that can incur a late fee
- The minimum charge to be assessed
- The maximum charge to be assessed
A blue icon in the
Amount
field indicates when a late fee amount has been overridden.