Overdue invoices and late fees in Sunrise by Lendio

Overdue invoices and late fees

All businesses have customers who do not pay on time. Using this process, reminders can be sent, and late fees imposed if desired.

Sometimes it becomes necessary to remind customers they have an outstanding balance in your Accounts Receivable. It may also be essential and even desirable to impose late payment fees to be compensated for your inconvenience and motivate certain customers to pay on time. 

This article describes how to do this. 

To start: 
  1. Go to the Invoices home page 
  2. Select the Overdue filter at the top of the page

  1. Select an overdue invoice
  2. At the top right hand of the page that loads is a red "Send reminder" button; click on it 

  1. A new window will pop-up listing all the overdue invoices for this customer

  1. If an email address does not appear, or it needs to be changed, update the Recipient field.
  2. The email message and the warning message can be edited*
  3. Select one or more invoices to be included in the communication
To apply late fees, click on 'Add a late fee...' and the following fields will display

  1. Late fees can either be a flat rate or a percentage of the amount owed. 
  2. Select the fees and click the green "Send email" button
  3. In the example displayed below, the original invoice was for $100. A 10% late fee was applied. 

When the reminder is created in the system, the extra 10 dollars is credited to the Late fees account under Other revenue
If invoice number 1005 is opened after payment, the late fees will not display. However, when you go to the Late fees account, the source invoice number will be listed. 

Note: Sunrise does not currently have automation around this process. But it is being considered as a future enhancement. 

* to permanently change the text, edit the template

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