Applying Automatic Late Payment Fees

To help manage overdue invoices, Loopit allows you to automatically apply a Late Payment Fee after a set number of days past the due date. You can also customise how and when this fee is applied across your customer base.

How to Enable Automatic Late Payment Fees

To set up late payment fees:

1. Go to Settings in the navigation menu.

2. Under the Billing section, click on Late Payment Fee.

3. Toggle Enable Late Payment Fee to turn it on.

4. Select an existing billing item to use as the late fee, or create a new billing item if needed.

5. Type in the fee amount you want to apply.

   💡 Note: This amount should be exclusive of Tax/GST.

6. Set the number of days after an invoice becomes overdue for the fee to be applied.

7. Choose one or more of the following options:

   • Apply late payment fee to past due invoices This will apply the fee to invoices that are already overdue.

   • Apply status to all companies and people This will enable late fees across all current and future accounts and their bookings.

   • Apply late fee to next recurring invoice for active bookings

     When this setting is enabled and a booking is active with an overdue invoice, the system will automatically include the late payment fee on the next recurring invoice, will not re-apply it if manually removed by a user from pending invoice, and still permits manual application from the Overdue Invoices list.

Exclude Bookings from Late Payment Fees

If you need to exclude specific bookings from having a late payment fee applied:

1. Navigate to the booking in question.

2. Click on the Billing tab.

3. Go to Settings within the billing section.

4. Disable the option for applying late payment fees for that individual booking.

Tip: Late payment fees are useful for encouraging timely payments but should be communicated clearly in your customer terms and conditions.

If you need help setting this up or managing billing settings, feel free to contact our support team via [email protected].