[New] Late Fees for Square Invoices

[#1]

Hi Sellers! 👋

Based on your feedback, we are excited to introduce a new way to help you avoid late payments on invoices and protect your cash flow with Late Fees - available now for all Invoices sellers in the US and Canada.

With late fees, you’ll be able to set clear expectations with your customers around the penalty for paying an invoice late.

What is a late fee?

A late fee is an additional charge your customer needs to pay on top of the total amount owed on an invoice, if an invoice hasn’t been settled by the agreed upon due date. Late fees can either be a flat fee or a percent of the total invoice.

You will also have the option to add a grace period for late fees, which is a set number of days between the invoice due date and the date a late payment fee is added to the invoice.

Where can I add a late fee?

You’ll be able to include a late fee on:

• Estimates: Share your late fee policy when you send a quote, so you can set expectations before you’ve even created an invoice.

• Invoices: Customize late fee details, like when the late fee will kick in and the amount, for one-off and recurring invoices.

• Contracts: Include a late payment policy in your contracts, so you can protect yourself against disputes if an invoice isn’t paid on time.

How do you add a late fee?

You can set up a late fee when you create a new estimate or invoice.

To do so:

1. Click Late fee under the total amount.

2. Set the late fee amount, which can be a percentage or flat rate. 

3. Adjust the grace period for the fee.

You can also add a late fee to existing invoices.

To do so:

1. Click on an existing invoice.

2. Select the three dots and click Edit.

3. From here, follow the same steps as above.

You may remove late fees by clicking the X on the New invoice page, to the right of the late fee.

For more information on late fees and Invoices, check out these support articles:

• Manage Square Invoices Online

• Best Practices for Square Invoices