Glossary
Late fee
A late fee is an extra amount added to a debt that is not paid by the agreed date.
What it means for a shop owner
It must be agreed in writing before the sale and allowed by the law where you trade. Keep it reasonable or you may lose the customer. It is better to remind before the date.
A worked example
A 1000 invoice is late and the fee is 1 percent a week, so it grows by 10 a week.
Related
Try it in your shop, free, no card.
The free plan: the whole shop for one branch, an offline cashier with stock, debts and accounting, with a daily limit on invoices, expenses and purchase orders. What it includes