Monthly Late Fee

Question

I need to configure 1% Delinquency per month due in odoo 17

Example, a customer has an invoice due at the end of the month, if he does not pay until that date a 1% monthly late fee is automatically generated.

Thanks in advance for any help

Cybrosys Techno Solutions Pvt.Ltd · Answer

Hi,
You can achieve by creating a new payment term:
1)Go to Accounting > Configuration > Products > Payment Terms.
2)Create a new payment term or edit an existing one.
3) Calculate the late fee by multiplying the number of overdue days by the invoice amount and late fee rate (1%).
4)Create a new journal entry to record the late fee expense and revenue.

Hope it helps

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