Mighty helps you get paid quickly. To encourage your customers to pay on time, you can charge them late fees if they fail to submit payment until after the due date you set for an invoice.
In order to charge a late fee for an invoice, you'll need to have had a late fee percentage set in your account settings when you first send the invoice. This setting represents the percentage of the invoice total (before tax) that will be charged for each month the invoice is overdue. (Note: some localities have restrictions on how much businesses can reasonably charge for late fees, so be sure to check your local regulations.)
If you have entered a late fee percentage for your account, each new invoice you send to customers will include a note at the bottom mentioning the applicable late fee. Such notes are required in order to make your late fee enforceable.
Once you have entered a late fee percentage, you can add late fees to any overdue invoice by taking the following steps:
- From the dashboard, select the invoice to which you'll add late fees
- Press the button to "Edit" the invoice
- Underneath the items included on the invoice tap "Add late fee" (it is calculated automatically, so do not update it)
- Note: The late fee will be automatically calculated based on the original due date; do not change the due date.
- Press the "Preview" button to confirm the updates to the invoice
- Tap "Send" to email the invoice with late fees added
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