How do late fees and finance charges work?

Client late fees are opt-in for each client and off by default. A finance charge on your distribution is separate, and BOSS sets those terms.

1. When you add a client, answer Should this client be charged late fees on overdue invoices? Choose Yes or No.
2. To change it later, open Client late fees when that page is available for your company. Set Charge late fees to Yes or No for each client and click Save changes.
3. Late fees for all clients turns every row the same way. You can still change one client after that.

How it works

• Late fee invoices appear in your Invoices list, the same as other invoices.
• When your client pays a late fee invoice, you get a credit on your distribution. BOSS keeps none of the late fee. 100% goes to the partner.
• You get "Late fee warning" emails about overdue invoices. These are billing notices and cannot be turned off in notifications.
• Same week waiver: if your client pays the overdue invoice in full on or before the closeout of the week the finance charge landed in, the finance charge is credited back to you. It shows on your distribution as "Finance charge waived". Partial payments do not qualify.

Good to know

• The Client late fees page says the standard rate is 1.5%, and you can set a lower one. You do not type a finance charge amount yourself.
• That page is hidden for payrolling and self-invoicing companies.
• Want to stop late notices going to a particular client? See How can I stop late notices from going to my client?

Questions? Contact BOSS Support at support@backofficenow.com.