We’ve introduced enhanced late fee configurations to help schools enforce payment policies consistently while maintaining transparency and control over overdue charges.
What’s New
Option A: Daily Accruing Late Fees
Late fees can now accrue daily for invoices that remain overdue.
Configuration options
Daily late fee rate Percentage of the outstanding invoice balance (e.g., 0.5% per day), or Fixed daily amount (e.g., $2 per day)
Maximum late fee cap Fixed dollar amount (e.g., $100 max)
Behavior
Late fees will be recalculated daily
Accrual automatically stops when:
The invoice is fully paid, or
The maximum late fee cap is reached
Late fees are added as a separate line item linked to the original invoice
Option B: Fixed Late Fee After Due Date
Late fees can also be configured as a one-time charge applied after an invoice becomes overdue.
Configuration options
Grace Period Define a grace period (in days) before the late fee is applied
Late fee calculation Percentage of the invoice amount (e.g., 10%)
Late fee cap Maximum late fee amount in dollars (e.g., capped at $50)
Example
Late fee: 50% of invoice amount capped at $50
Grace period: 2 days
Behavior
Late fee is applied once, after the grace period
No additional late fees accrue unless the policy is changed
Late fee appears as a separate line item on the invoice
Why this matters
Supports flexible payment policies across schools
Encourages timely payments while remaining transparent to families
Prevents overcharging with configurable caps
Reduces manual billing effort for overdue invoices
Improves financial accuracy with clearly itemized late fees