If you want to accept late work from your students, you must change the End date to a date after the Due date in the Assignment Editor. Late work deduction percentages are adjusted by typing a number from 0-100 in the field or by using the up/down arrows.
Start % for Late work is the maximum percentage value the assignment can have.
Floor % for Late work is the minimum percentage value the assignment can have.
Rate of Decrease in Percentage is the value the assignment decreases per hour or per day beyond the Due date.
If late work is accepted and the student is submitting work late, they will see their Late Work % and their Late Potential in the Grade Summary within the answer area of their assignment problems. 
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