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Past Due Interest Charges

Posted: Mon Jul 13, 2020 11:09 am
by scotttitzer
Anyone successful in charging customers interest on past due invoices? It is part of our terms and conditions.
Scott

Re: Past Due Interest Charges

Posted: Tue Jul 14, 2020 12:53 pm
by metromapp
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.