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Past Due Interest Charges

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scotttitzer
Posts: 9
Joined: Fri Jun 08, 2018 11:00 am

Past Due Interest Charges

Post by scotttitzer » Mon Jul 13, 2020 11:09 am

Anyone successful in charging customers interest on past due invoices? It is part of our terms and conditions.
Scott

metromapp
Posts: 9
Joined: Mon Apr 16, 2018 10:57 am

Re: Past Due Interest Charges

Post by metromapp » Tue Jul 14, 2020 12:53 pm

Scott,

If we invoice for interest on past due invoices we generally bill off system. We have found that it may encourage the customer to pay but they more often than not fail to pay the interest. By billing off system it is less cumbersome to reverse. Our best method to collect overdue invoices is to place the customer on credit hold until current.

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