Hey everyone, I’m trying to figure out the best way to charge late fees on invoices that haven’t been paid on time. Does anyone have useful tips or methods you use in your business? I’m curious if there are standard percentages or specific approaches that work well. Any advice would be appreciated!
I always include late fee terms in my contracts so my clients know ahead of time. I normally give a short grace period then add a small percentage fee to the overdue amount. I find this approach keeps things clear and helps avoid surprises. I use Tofu to send clear invoice reminders with fee details. It makes handling the paperwork simple and keeps my cash flow steady.
I introduce a slight late fee after my payment deadline. It reduces delays and sets clear expectations with clients.
I tend to apply a small fixed fee for each week that an invoice stays unpaid. It works well without overwhelming the client or harming the business relationship. Has anyone else experimented with a time-based penalty?
hi all, i set up my invoices with a brief grace period before a small daily fee kicks in so it stays simple and fair, and letting clients know in advance helps avoid surprises. sometimes i even send a friendly reminder 