In this review we discuss recent work and progress in the modelling of photospheres of stars of spectral types F and later. Special emphasis is laid on advances as regards the consideration of atomic and molecular blanketing, non-LTE and convection and other dynamic processes. In a special chapter we discuss the possibilities of semi-empirical modelling of late-type photospheres. In the conclusions we find that much important work remains in this field, but that a considerable part of this work may in fact be carried out in a near future.