Late Fees

pdavis3437 · ‎March 07, 2022

We have a standard 1.5%/month (18%/annum) late fee as our default in QBO. However, I want to have a different late fee calculated for one of our largest customers. I have chosen the customer, gone to the Late Fees tab and Enabled the late fee. I chose "Customize" and when I went to enter the percentage, I get the error message of "Invalid Value" and I cannot save the new finance rate. What do I need to do to get this to work?

Peg Davis

Parsons Roofing

Candice C · ‎March 07, 2022

Good afternoon, @pdavis3437.

It's great to see you back in the Community. Let's work together to get this resolved.

The reason may be due to needing a zero in front of the decimal. Here is the way it would be entered:

"0.83"

For additional details, check out this guide about late fees:

Set up and apply automatic late fees to invoices

This should do the trick. Don't forget to let us know if this worked for you or not. I want to ensure that you get this taken care of. Have a great day!

View solution in original post

Candice C · ‎March 07, 2022

Good afternoon, @pdavis3437.

It's great to see you back in the Community. Let's work together to get this resolved.

The reason may be due to needing a zero in front of the decimal. Here is the way it would be entered:

"0.83"

For additional details, check out this guide about late fees:

Set up and apply automatic late fees to invoices

This should do the trick. Don't forget to let us know if this worked for you or not. I want to ensure that you get this taken care of. Have a great day!

pdavis3437 · ‎March 07, 2022

Yep, the leading "0" worked! Thanks!

SashaMC · ‎March 07, 2022

Hey pdavis3437,

I am so happy my friend Candice could help you with this! If you ever need assistance, you know where to find us! Take care and be safe.

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