Applying late fees

How to actually add a late fee in Xero and QuickBooks, and how to make it apply itself.

Late fee manager
Overdue marina slip invoice for Sam Lee with the grace period ended and a $60.00 late fee added

Marina late fee automation for Xero and QuickBooks

Denym Bird22 Oct 2026
Statement interest policy: Bank of England base rate plus 8%, auto-updated and locked for each six-month period

Bank of England base rate late payment interest: how to charge it automatically

Denym Bird28 Sep 2026
On £10,000 at 12% for a year, simple interest is £1,200.00 and monthly compounding £1,268.25, £68.25 more

Compound or simple interest on overdue invoices

Denym Bird28 Sep 2026
UK fixed compensation per overdue invoice: £40 under £1,000, £70 up to £9,999.99, and £100 from £10,000

Free late fee calculators, and what free tools cannot do

Denym Bird28 Sep 2026
Late fee invoice in Xero: £134.11, VAT set to Not applicable, posted to a late fee income account

How to account for late fees: tax, income accounts and reconciliation

Denym Bird28 Sep 2026
Statement for £10,000 of overdue invoices with £312.33 interest worked out on the day it is sent

Late payment interest on customer statements

Denym Bird28 Sep 2026
Late fee policy with an Earliest Interest Date of Apr 1, 2025 on an invoice from Mar 1, 2021

New: Set Custom Starting Dates for Late Fee Calculations

Denym Bird12 May 2025