How do late fees and finance charges work?
BOSS sets late fees for overdue client invoices. If your client pays in full within the same week, your finance charge is credited back automatically.
When a client invoice goes overdue, a finance charge can apply to your distribution, and a late fee can be billed to the client. BOSS sets the late fee terms for each partner and client. They can't be changed in the app.
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.
- You get "Late fee warning" emails about overdue invoices. These are billing notices and can't be turned off.
- 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 automatically. It shows on your distribution as "Finance charge waived". Partial payments don't qualify.
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.