Interest on overdue invoices
Hi, I have a customer who has overdue invoices from a year ago and as much as I have tried to work with them, their drip feed payments have started to dry up. I need to know how to add interest charg...
Forum Discussion
Hi BeastProduction,
Currently, we don't have a feature for invoices to reflect interest charges when they become overdue. However, you could look at setting up finance charges for your customers, which are amounts added to an outstanding balance as a penalty for overdue payment. These charges are usually added to the customer statement.
To set this up, you would need to configure the terms on the invoice. Once this is set up, the system will automatically calculate the charges. For detailed instructions on how to set this up within AccountRight, you can refer to our help article: Finance charges paid by customers.
I hope this helps!
Regards,
Earl
Hi Earl,
I really appreciate your reply.
I have tried following the instructions you provided but I'm not sure I am in the right place. You mentioned setting up within AccountRight; I don't think I have this, according to my subscription I have MYOB Business Pro.
Is there another way to do this?
Look forward to your reply.
Regards,
Geeta @ Beast.
