Are there any plans to update the system to be able to enter customizable grace periods? Like entering 4 days instead of picking fixed days from the dropdown?
Or is there a way to set this up differently, my scenario: We send Invoices out on the 1st of the month, due on the 1st payable up until the 5th. Late fees should be applied on the 6th. But with the grace period options, I select 5 days, and the late fee doesn't get applied until the 7th. This is because late fees are applied 5 days AFTER the due date vs on the 5th day of the due date.
If there was a way for me to enter a custom grace period of 4 days, it would work perfect.
Thanks for sharing your thoughts with us, jiselle77.
Your suggestion on entering a custom grace period of 4 days would be a great option that will work perfectly for your business. While this option is unavailable in QuickBooks Online, you'd love to know that you can send feedback about the feature you want to have with QBO.
This way, our Product Developer team can review it. Please know that they're open to opinions as this helps improve our product to suit your business needs. To send feedback, you can follow these steps:
Also, you can visit our QuickBooks Blog page to stay up-to-date on the latest news and features about QuickBooks.
The Community is always open if you have other questions. I'll be around to help.
I understand the importance of adding a grace period in QuickBooks Online, jiselle77.
We can set up any number of grace periods in QuickBooks Desktop (QBDT). However, this feature is unavailable in QuickBooks Online (QBO).
I've added a screenshot for adding 6 days grace period in QBDT.
I recommend sending customer feedback. This way, you'll be able to vote for this feature to be added. Our Products and Development team are working to improve our service and serve you better.
I've also included a detailed resource about working with automated late fees which may come in handy moving forward: Set up & apply automatic late fees to invoices.
Feel free to comment down below if you have any other concerns or questions about late fees. I'm always glad to help in any way I can.