Automate Late Fees
You can automate the late fee by using the Price Variation settings within the late fee product to specify the date you’d like the late fee to automatically kick in. To do that, either follow the instructions for creating a new product (called Late Fee), the follow the instructions below for automating it. If you already have an existing late fee product that you’d like to automate, just click the name of the product, Late Fee:
In the box called Flat Rate Pricing, set the price to $0. Then click the blue Add a Variation button:
Continue clicking the blue Add a Variation button and repeat the steps above to stack multiple date-based price variations to automatically increase the price over time. For example, if the late fee is $50 starting March 1, $100 starting April 1 and $150 starting May 1 then you would set up three variations:
- $50 between 3/1-3/31
- $100 between 4/1-4/31
- $150 between 5/1-9/30
Note: You’ll need to update the date ranges each year to ensure that they’re set for the current year. Expired date ranges are invalid so the fee will not apply.