The latest version is changing implementation of late payment fees on sales invoices.
Previously, late payment fees would be created automatically and recalculated automatically based on the rule set on sales invoice. While this concept worked, it wasn’t really possible to selectively forgive particular fees or change amounts. It was all-or-nothing solution. On top of that, some heavy users started to experience performance issues.
In the latest version, late payment fees are manual entries which system can offer to generate.
For now, late payment fees will have its own tab.
I’m not entirely sure this is necessary as late payment fees are really a type of credit (debit) note so in future, late payment fees are most likely to be merged but for now I’m going to leave it as a separate tab.
When one or more invoices are eligible to be charged late payment fee, it will be indicated as alert under
Sales Invoices tab.
Clicking on the alert will allow user to generate late payment fee entries. Once late payment fee entries are created, they can be further edited (if required) like any other transaction.
Late payment fees from previous version are gone and need to be re-created
If you’ve been using late payment fees in previous versions, you will notice they are missing. You need to go to
Sales Invoices tab, click on the alert which will prompt you to create late payment fee entries. This will add them back as manual entries under
Late Payment Fees tab.
Late payment fees will continue to evolve. I’d like to add ability to have grace period, fixed amount fee or ability to mark late payment fee as forgiven.