In your 6Storage account, the late fees applied to Tenant accounts who are overdue on their payments will be applied to their invoices, and show as "Late fees"

To create your Late Fees follow the steps listed below.

From the Settings menu, click Financial Settings, and then Late Fees.

Click "Add Late Fee"
You will see this menu.

Your first step is to select your "Collection Frequency"

Daily – The Late fees will accrue on a daily basis once the lease becomes Overdue.

Custom – The late fees will accrue after a customized range of dates. For instance it can be set to apply after every 5 days. So once the lease becomes overdue the late fee will be applied after every 5 days until the balance is paid off.

The rest of the fields are pretty self explanatory.

  • The Late Fee Collection type i.e Fixed Values or Percentage.
  • Due Days
  • Late Fee Amount

After you've filled out the information and saved, it will be displayed in the Late Fee list.

Edit and Delete Icons will allow you to edit the late fee or delete it.

To enable the late fee feature on your 6Storage account, Navigate to Settings>> Preference tab>> Other Preferences 

Type in the minimum balance for adding the late fee in the field that says "Minimum Invoice Balance". 

Note: The late fee will be added