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Late Payment Charge functionality

It is common business use case for Telecommunication company to have late payment charges for invoices that are not paid by the invoice due date. Here is one simple example:

Customer is invoiced $100 with a due date of August 1st. Payment is not received by August 5th therefore the customer would be charged a late payment fee of 2% of their outstanding balance‰Û¡ÌÝ_..in this case $2. The $2 late payment fee would show up on the customers next invoice.

 Next invoice would look like this with a due date of September 1st:

 Ì´ÌÁ Past due amount $100.00

Ì´ÌÁ Late Payment Charge $ 2.00

Ì´ÌÁ Current Charges $100.00

Ì´ÌÁ Total Invoice Amt. $202.00

 If the customer did not pay this invoice by September 5th than they would be charged 2% on the $202 that would show up on their next invoice.

 

This enhancement request is currently being evaluated with reference # DE7175.

 

8 Comments
Community Manager
Status changed to: More Feedback Needed
 
Community Manager
Status changed to: Under Consideration
 
Scholar

We aare a Internet Services Provider and we charge a flat fee based on the level of the plan for late invoices. Would like this to be automated, instead of having to manually add subscription for late fees.  Any chance of this happening anytime soon?

 

 

Scholar

We are considering charging a late fee of 1.5% of the unpaid balances as well.  But we have the added nuance of some of the invoiced charges could be disputed.  We plan to issue provisional credits for these charges as a way to take them out of the aging until such time as the disputed charges are adjudicated and the provisional credit removed or a permanent credit issued (or something similar).  Assessing a late fee on the unpaid balance calculated within Zuora is preferred.

Scholar

We would like to have a finance charge (% amount of our choosing) automatically added to invoices that are past due, or a certain number of days (also of our choosing) past due. The option to remove the fee from an invoice is needed as well.

Zuora Staff

@mmiller have you checked out Zuora's Collection Manager app? This is a great addition to current Zuora functionality which allows you to tack on late fees/finance charges for delinquent invoices, create enhanced collection notifications, and more!

 

If you're interested in a demo, feel free to reach out to your Customer Success Manager and they can help arrange that. 

Hi, 

 

We are a SaaS company and would like the late payment fee updated for our customers. Let me know if this feature is available.

 

Thank you.

Rosalyn

Senior Tutor

We are offering car subscriptions and we have two dunning stages.

Invoice late 15 days we invoke dunning fee I which is USD 30 and after another couple of days we invoke late fee USD 50.

Features needed for this is:

  • Regenerating a invoice including late fees as separate line intems
    • Late fees should show on invoice as separate line items e.g. late fee I  USD 30 and late fee II USD 50 = total of USD 80
    • The late fees should not be products, since there should not be late fees for existing late fees invoked.
    • These late fees should be separatly cancelable. If the invoice was paid with the original amount (maybe the payment shows late and the late fee was already issued even though the payment was already being processed by the bank).
  • There should be late fee events in the notification, e.g. late fee terms or something like that.
    • I would like to send two different e-mails for late fee I and late fee II. Using the notification method.