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Instructions and Help about Prompt Year Invoice For Free

Prompt Year Invoice: make editing documents online simple

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Calculate the interest amount by dividing the number of days past due by 365, and then multiply the result by the interest rate and the amount of the invoice. For example, if the payment on a $1,500 invoice is 20 days late with a 6-percent interest rate, first divide 20 by 365.
There are three costs you are allowed to add to overdue invoices. For example, if you're in the first six months of the year and the base rate on December 31st was 0.75%, you can charge interest at 8.75% from the day the invoice became overdue. You'll need to send a new invoice showing the amount you are adding.
Calculate the interest amount by dividing the number of days past due by 365, and then multiply the result by the interest rate and the amount of the invoice. For example, if the payment on a $1,500 invoice is 20 days late with a 6-percent interest rate, first divide 20 by 365.
Before you can charge your customers a late fee, you must first spell out the terms of the finance charge in writing. When you send the first invoice, include a due date. This can be as simple as “net 30 days” or a specific due date at the bottom of the invoice. Include the percentage amount, such as a 15-percent fee.
If you've set your payment terms out clearly on your invoice and the client has ignored them, you're entitled to charge interest in the form of overdue fees.
Write a letter stating that if the client doesn't pay within x days (don't give them too long five days is fine after all this time), you'll charge them for late payment interest and compensation. Also state that the interest will continue to accrue until the whole debt is repaid.
The interest invoice number is the overdue invoice number plus the suffix -Into, where x is the number of interest invoices for that overdue invoice. For example, if the invoice number is 54362, the invoice number for the third interest invoice is 54362-INT3.
Calculate the interest amount by dividing the number of days past due by 365, and then multiply the result by the interest rate and the amount of the invoice. For example, if the payment on a $1,500 invoice is 20 days late with a 6-percent interest rate, first divide 20 by 365.

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