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Please add the functionality to automatically add late payment fees with the invoice reminder settings. this can be as simple as the product "Late Fee" being automatically added as a line item when the invoice reminder triggers

Any update on this team Xero.
Agree with the comments below that this is important for businesses in todays market

100% agree with Aleksandra's comment. The new invoicing is terrible, the majority sent from the new invoicing goes to customer spam. Will be sticking with Classic as long as possible. Urgently needing the ability to add interest easily to late payments. I would of thought that being an accounting/financial system that this function would be a given. Considering the amount of paying customer requesting it, why is has it not yet been implemented?? Maybe Xero has put it in the too hard basket....?

@Kelly Munro (Community Manager, Xero) editing already issued and sent invoice is a wrong doing if not fraudulent activity. Invoices can be changed by issuing a Credit Note. Nevertheless once you have started working on new invoices as project, this should have been an imperative to have. Its been requested by so many users for such a long time. BTW there was noting wrong with the previous invoicing it just need to be improved by such things as late interest on unpaid invoices.

Well looking at the type of features Xero release now, we should change strategy.
So Xero,
1) Interest on late payments as a feature is completely unimportant. Even though Xero is the only accounting system on the planet that doesn't support this, please don't spend any precious development time on this.
2) Please focus on features without which we cannot run our business like a preview panel for reports or an alert when I am stupid enough to pay someone twice. Maybe a button that makes a funny sound.

Well said Martin, I've been in this thread for years and Xero has continuously dangled a carrot with absolutely no intent to follow through. No Transparency, and frankly, a complete disrespect towards users who have been waiting patiently for an actual solution. Either commit to delivering this feature in a concrete timeline or be upfront and admit its not happening. Keeping this on a perpetual "maybe someday" track shows an unwillingness to make basic development decisions and take real action. Make the call Xero- we deserve clarity.

Xero, act courageously. Either say "No, this is not something we will do." or say "Yes, we will do this and we will have it done by DATE."

Keeping things like this open speaks to a weak character. It looks like an organisation that doesn't want to upset anyone but also doesn't want to do the work. Just be honest. Either do it or don't do it. Just pretend that there is no option in between these two.

From and including: Thursday, 29 March 2012
To, but not including Wednesday, 13 November 2024

Result: 4612 days
It is 4612 days from the start date to the end date, but not including the end date.

Or 12 years, 7 months, 15 days excluding the end date.

Or 151 months, 15 days excluding the end date.

Please add a facility to add late payment fees and interest on overdue invoices. It's very simple and used very occasionally, no business should buy any add-ons/app for this simple function.

Please add a facility to add late payment fees. It's very simple and used very occasionally, so no business case to buy any add-ons.

It is incorrect accounting practice to edit the amount of an invoice once issued to a third party, so Xero's suggestion Apr 11, 2024 is unacceptable.

Please provide an acceptable 'work around' whilst we all wait for this feature (that has been continually requested for many many years and has been available in other accounting software for many many years).

Thanks

PS whilst I am sure Paidnice is an awesome solution for those who are continually chasing overdue payments/adding fees and require an ongoing solution, it is too expensive for those who only occasionally have to apply fees.

Our new companies are being setup in Quickbooks Online since that has late fees built in. I wish Xero would prioritize this.

If you want a suggestion on a Xero app to solve for this, Paidnice (on the app store) can add interest and late fees in any way you want. https://www.paidnice.com/

It would be nice if this feature were already implemented. It seems like a core feature that wouldn't take too much work. Why are we relegated to pay for another add-on?

Xero is increasing the sub costs again, but there has been nothing new for us for years. While your developers are sharpening their Tetris skills, your customers are struggling to live with the pain that is Xero.

PLEASE - AT LEAST LET US TO DO IT OURSELVES

If you could give us a custom field in the Statements template, we could put the interest in ourselves (but of course you don't have a custom field).

If we could get the statements via the API, we could pull the statement apart and add the interest (but of course you can't get the statements via the API and it is only available in pdf in the front-end).

If we could use the API to get the data used to calculate the statement lines, we could also build the statements ourselves (but of course that is also too hard for Xero).

You basically just need to replicate PaidNice.com

This should really be a built in feature

This feature should be the top priority. As a business owner in today's market we have to put fees on to make customers feel the urgency to pay! Also, we can't keep running a business without invoices paid on time. It is quite disappointing. I pay as much as I do for a subscription, and it does not have this, and you're not even working to bring it in ASAP.

Another vote that this is very important for our business and for our clients.

Please introduce this soon to support so many small businesses that have started relying on Xero.

What an absolutely absurd thing to not have already implemented in your software. Xero should be able to do this, it’s simple, many integrations do this with xero… and to be honest that is probably the problem, they don’t want to include features that other apps offer, why include something in the base subscription that other apps offer for a price? Especially when Xero gets a cut of that extra subscription. You didn’t just take design inspiration from Apple, you’ve copied their play book.

This is becoming more and more of an issue as we expand. Automated would be great, but even being able to have a spot on the statement to add it to would be good. How is everyone else doing this? Are they creating a separate invoice for late fee / interest due? If so, are they changing it every month it is late, or creating a new invoice each time?