Overview
Late fees in DaySmart Vet can be automatically applied to past due invoices as a one-time fee or as a percentage of the outstanding balance due. The late fee feature is managed under "configurations" in Settings.
Enabling Late Fees
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To enable the late fee feature, navigate to the Settings > View Configurations and find "Payment Terms". Click on the edit icon next to the right.
The form that appears contains two sections. The top half of the form allows you to set your payment terms. This information tells the software when an invoice is due. The bottom half of the form allows you to specify how the late fees should be applied. If you see the fee to be as a fixed amount, then it will only be applied once when the invoice is past due. If you set the fee as a percentage of the balance due, then the fee will be calculated at the frequency you specify. Please note that late fees set as a percentage will continue to apply to the interest amount itself if the invoice continues to remain unpaid.
There are a few other options that are worth noting. First, you can specify whether to start applying the late fee immediately when the invoice becomes due (by setting this value to 0). This option allows you to provide a grace period before applying the late fee.
Second, you can specify whether the late fee should apply to all outstanding invoices, or only those that have a minimum balance. This is useful if you wish to avoid charging late fees on small past due balances.
Finally, if you are enabling this feature for the first time, you can specify whether to apply the late fee to all outstanding invoices or just new ones going forward.
Viewing Late Fees
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Viewing on Invoice
Late fees will be added to invoices based on your configuration settings (as described above). Any late fee that applies to an invoice will appear in the profile section of the invoice and be added to the invoice total.
There is also a "Late Fee" tab within the invoice, which will have a number next to it, which indicates the number of lates fees the invoice has (if applicable). From the late fee tab, you will see all late fees associated with that invoice.
Viewing from Clients Profile
You can also view late fees that have been applied to a client's account by navigating to that client's profile, clicking on "Billing" and selecting the option to view late fees.
Waiving Late Fees
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A late fee cannot be waived on locked invoice. The invoice must be edited, and changed to open in order to waive the late fee.
You can waive late fees that have been applied to an invoice on a case-by-case basis. There are two ways to do this.
From an Invoice
Navigate to the applicable invoice, click on the "Late Fee" tab
Next, click the edit icon to the right of the late fee. Type in the amount that you are waiving within the "Waive" field and click "Save"
From the Clients Profile
Navigate to the clients profile and select Billing > Late Fees
A list of all invoices that have late fees will appear. Click the edit icon to the right of the invoice that needs the late fee waived. Type in the amount that you are waiving within the "Waive" field and click "Save"
