Invoicing late payment interest and reminder fees

Click on Economy > Invoices > Late payment interest rate.

The list on the left shows which late payment interest rates are available for your company.

1. Set the late payment interest rates you want to use and create more if required.
2. Enter a reminder fee and VAT rate for the charge, if applicable.
3. Click on to save all changes.

2. a) Click on Settings > Offices.

1. Go to the Invoice settings tab.
2. Select the default late payment interest rate for your company from the drop-down list.
3. Click on to save all changes.

2. b) Choose whether you want to invoice directly or have late payment interest and reminder fees included on the next invoice to the customer

Deselect the checkboxes to include created interest and reminder fees on invoices. To include late payment interest and reminder fees on the next invoice sent to the customer, select them instead.

1. Click on Register > Customers.
2. Select a customer from the list on the left and go to the Invoice information tab.
3. Select the required late payment interest rate from the Late payment interest rate drop-down list.
4. Click on to save all changes.

For more information on how late payment interest is calculated, see Interest and late payment interest.

Click on Economy > Invoices > Invoices > File > Interest invoices.

1. Select the Calculate interest and Create reminder fees checkboxes on the Creation tab and configure the settings for late payment interest and reminder fees.
2. Deselect Create interest invoices.
3. Click on Ok.

Explanations of settings for Calculate interest

Option	Explanation
Calculate interest until	Select the date up to which interest should be calculated. The date is used in cases in which the invoice has not been paid.
Minimum interest value per invoice	Select the checkbox if you do not want to calculate interest on very small amounts. Specify the minimum amount on which interest should be calculated.
Minimum interest days	The number of days a payment has to be late for interest to be charged on the overdue invoice can be defined here.
Override due date	Select this checkbox if you do not want to calculate interest based on the due date stated on the overdue invoice.
Remove old open interests	Select this checkbox to ensure that no old, uninvoiced interest sums are included in the calculation results.
Paid invoices only	Select this checkbox to calculate interest only for overdue but paid invoices.

Explanations of settings for Create reminder fees

Option	Explanation
Remove old open reminder fees	Select this checkbox to ensure that no old, uninvoiced reminder fees are included in the calculation results.
Paid invoices only	Select this checkbox to create reminder fees only for overdue but paid invoices.

Go to the Pending interest and Pending reminder fees tabs and delete invoices that you do not want to create at the moment.

Explanations of action options for Pending interest and Pending reminder fees

The action options explained here are for Pending interest, but the same applies to Pending reminder fees.

Option	Explanation
Select a row	Click on the row.
Select several rows.	Click on a row, hold down the mouse button and drag across the rows you want to select. Release the mouse button. or Click on a row and release the mouse button, hold down the shift key and click on another row. The two rows and everything in between are then selected.
Delete	By clicking on Delete, the invoice disappears from the list and a question appears about making it a no-interest invoice. If Yes is selected, the invoice will not have interest applied in the future. It will not appear in the list the next time interest is calculated. If No is selected, the invoice will have interest applied in the future. It will appear in the list the next time interest is calculated.
Do not invoice, Show inactive and Restore	Click on Do not invoice to deactivate the selected invoice. It will then not appear in the list and the customer will not be invoiced for interest this time. To activate the invoice again, select the Show inactive checkbox, highlight the invoice and click on Restore.

Create interest invoices as follows:

1. Go to the Creation tab.
2. Deselect the Calculate interest and Create reminder fees checkboxes.
3. Select the Create interest invoices checkbox and adjust the corresponding settings.
   
4. Click on Ok.

Explanations of settings for Create interest invoices

To close an invoice period and send the invoices to the customers, proceed as follows:

1. Right-click on the invoice period and select Close in the context menu.

2. Select the account coding scheme and click on Ok.

3. Select the desired invoice export and click on Export and send.