Click on Profile and select account settings from the drop-down menu.



AccountSettingsLatefee1



You could see Preferences Tab, click on it.



AccountSettingsLatefee2



Under Late Fee section you can select the checkbox "Do you collect late fee".



AccountSettingsLatefee3



Now add the Minimum Invoice balance in percentage or Fixed amount as per the radio button selection



AccountSettingsLatefee4



Once done, click on save button.



AccountSettingsLatefee5