Feature Requests
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Auto-Increasing Late Fee

Krissy shared this idea 3 years ago
Under Consideration

Currently the "Late Fee" is a single pre-set amount that's generated by either fixed or percentage. I think we should have the option of further adjusting this fee in an automated process.

For example, if someone is late by 1 day, the pre-set fee automatically adds to the invoice (lets say $10 for this example). However, its the same set amount if someone is 1 day late, or 14 days late. We should be able to set it so that the fee is incremented for every X amount of days late.

So if someone is between 1-7 days late, the fee is $10.

If someone is between 8 and 14 days late, the fee is $15.

If someone is between 15-21 days late, fee is $20.

If someone is a full month (22-30 days), the fee is $25.

As of this moment I'm going back and manually updating the invoices on a regular basis for clients/customers whom are late with their billing. Having this be a more automated process would make life a lot easier.

So it would really only be a one-section addition to the "Invoicing" panel under "Late Fee" since that's already in place. The next lines could be something like:

Self Adjusting Late Fee: (Yes / No)

Self Adjusting Late Fee Increments: Increase fee by $ 5.00 per every [7 Days] overdue.

The $5 would be adjustable for manual entry, the X Days overdue could be a drop down in maybe 7 day or 10 day increments.

Numerous different companies have an increasing late fee, I think this would be a valuable addition to WHMCS.

Comments (3)

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I half agree with you.

We like the percentage and minimum amount as it is, but that really should be calculated anew, every day it is still unpaid.

So, for example, it might be $7 on day 15 and $7,10 on day 16, $7.20 on day 17 etc etc

That way they get urged to actually take note and pay before they see it running up more and each day will actually cost them. That is what most terms of services say anyway, in our experience.

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I think further customizing the increments would be beneficial as well, where it can be run either by set rate or percentage. It's still a feature (regardless of which option one prefers) that should be added in.

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Yes, I need this option - however, might be easier to simply add a calculation e.g. increase late fee by "x" percent every "x" days. Also would be nice to add option to have the late fee compounded, not just based on the original amount.