I am encountering problems with the sales invoice. I am not sure whether it is a software bug or that I am missing something. I need advice.
Our invoices are set with a due date on the 10th of every month and would incur a Late Payment Fees of 5% after the due. In our school business, we issue new invoices every month to students to remind them of their tuition fee due. What I am encountering is that when a payment is made on the 11th on the actual amount (without the 5%), the invoice does not show a balance of the 5% to pay but showed “Paid in Full.” Even when I issue a new invoice for the following month, the late 5% of the previous month is no way to be found.
The followings are the Invoice, the confirmation of payment made on the 11th December and the summary of customer invoices issued.
Invoice for Dec 2015 - Issue on 25/11/2015 with Due on 10/12/2015 (it is shown Paid in Full because Payment was made but on the 11/12/2015, see #2)
Your problem is that the original sales invoice was for 0,00 because 880.000,00 was credited to the customer’s account at the moment the invoice was written. Therefore, no penalty was ever applied. I cannot be certain, because I do not see all your books, but very likely you had customer credits for that customer. Manager automatically applies these, when available, to any sales invoice. I suspect you are out of synch with receipts and invoices; that is, you have entered receipts before you entered a corresponding invoice, perhaps at the beginning of the student’s enrollment.
One way around this is to be certain you are applying payments to Accounts receivable and the specific sales invoice number. Now, however, just track the customer’s payments and receipts backwards and I am sure you will find the problem. The new layout of the Customers tab will help you drill down to this information.
When in the list of sales invoices, click on the amount under Balance due column to see when the payment for invoice was exactly credited. Show the screenshot of that screen.
OK, the issue is that late payment fee is correctly added 1 day after due date but incorrectly at the end of the day (rather than at the start of the day).
I fixed this issue in the latest version (15.7.26)
Thanks, Lubos! I must say Manager is the best accounting software we ever used. And we have the best developers who would listen to our ever demands. Not mentioning, my staff loves the software and it is so easy to learn. Keep up the good work!
Good day. I am having a similar problem. I just changed computers and downloaded your latest version on Jan 29, 2021. The late payment fee was applied properly in the version on my old computer but on installing my file on your new version all the late payment fees disappeared leaving a credit on the invoice. Please see image attached. Is there an update that fixes this?
It is impossible to know what happened without more information. Whatever it is, it is not the same as what was addressed in this 5 year old topic. As stated, that issue was fixed years ago. Further, implementation of late payment fees has changed significantly.
We need to see a complete illustration of a case. Show Edit screens of transactions.
Hello I just realized with the new install you have to enable Late Payment Fees in Customize. That seemed to do the trick and the late payment fees are now applied to the invoice. Thank you - got it sorted out.
