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Sales Invoices - Add interest to late invoices (including paid/part-paid Invoices)

Ability to add interest for the late payment. This includes part-paid too

Purpose: Save time by adding the interest without having to delete the existing one and remake a new one with the additional interest.

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AdminXero Team (Admin, Xero) shared this idea  ·   ·  Report…  ·  Admin →
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under review  ·  AdminKelly Munro (Community Manager, Xero) responded  · 

Hi everyone, a year on from my last engagement we wanted to provide an update for you all here.

As many will be across we're in the midst of making a lot of iterations and improvements to new invoicing leading up to the retirement of classic invoicing in September (2024).

We have a fair amount of work lined up in the teams schedule over the coming months and to give an indication there isn't any committed plans around a function to add interest to invoices.

That said, we do have a team that have picked up and are considering how we might solve this with the technology in new invoicing - It's early days on this yet, but I'll share if there's any progress on this for you all here.

In the meantime, as has been shared by others over time there are a few ways you could accomplish this today;

  • Include detail of any charges for late payments to your invoice template Payment terms & details, and
  • Edit and add a new line to your invoice to add the late fee - you could make use of Xero's inbuilt calculator for this, or
  • Edit and add a 'mark up' to each line of your invoice - again Xero's inbuilt calculator could help with calculating the amounts
  • Explore Xero's app store to see if you can find an integration that works for your business needs
  • In an effort to prevent late payment of invoices Credit limits may help in being able to prevent customers raising too much debt with your business

We appreciate the options above don't automate the full process of what you're asking here, and we will share if there's any news. Thanks

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  • Julie Sutton commented  ·   ·  Report

    Anthony - the update above is it - don't expect anything to happen on the request for a good few years if ever! Been waiting for things like supplier statements and "paying" creidt notes for years and that's not on the road map either! Have asked Xero to share their roadmap but they never do .....
    But its ok - "New invoicing" is here (which is truly awful - but hey ho!)

  • Anthony Nixon commented  ·   ·  Report

    What's the update on this one Xero? 4 months is a long time...

  • Morgan McDonald commented  ·   ·  Report

    Good old xero with the 'cast your vote' to show how important it is. I think people requesting this feature at least 4 odd years ago and still requesting it is telling in how needed this feature is. Not unlike the ability to print multiple payslips for employees rather than going in and printing one by one by one by one. Gets tiresome the lack of 'smarts' this program has.

  • Matt Boxwell commented  ·   ·  Report

    No this hasn’t been rectified and Xero don’t appear to have done anything about it.

  • Olivia Shockley commented  ·   ·  Report

    Would like to add to the chorus requesting the ability to have auto late fees/percentages applied to invoices.

  • Sue Brant commented  ·   ·  Report

    This fundamental request has to be added to your development scope now. I am new to Xero and would not have selected this product had I understood this missing functionality.

    Where can we find the features you are working on?

  • Matt Boxwell commented  ·   ·  Report

    Quick books apparently has this feature and works well. One of my friends runs it and find it easy to use. Make sure you tell Xero why you’re leaving when you do go, 11 years is far too long. Give them the bird and find someone who cares about small businesses.

  • Helen Kane commented  ·   ·  Report

    I'm shocked at the comments and looking for another system to change to now.

  • Jo Loffler commented  ·   ·  Report

    so this has been a request for 11 years and you still haven't moved on it?

  • Matt Boxwell commented  ·   ·  Report

    I suggest everyone send a email/fill out a contact form to Xero saying how badly this feature is needed and how frustrated you are that it’s been 11 YEARS since this was suggested and they still haven’t implemented it. It’s surely not that hard to make a percentage increase to the invoice upon reaching the invoices due date.

  • Emergent Software commented  ·   ·  Report

    It's shocking that this isn't a standard feature at this point when people have been asking for over a year. Quickbooks has had this capability for over 15 years as do most bookkeeping and ERP systems. Just another reason to move to another system as we grow.

  • Dylan Taylor-Edwards commented  ·   ·  Report

    This is desperately needed as a feature for growing businesses. The fact it is not already a feature is shocking. Our team would spend more labour chasing funds every year than the costs of our subscriptions with Xero. Changing to another platform would save us money on this shortfall alone.

  • Corbin Visual Ltd. commented  ·   ·  Report

    I have nothing new to add to this thread beyond what has already been shared. I simply wanted to reiterate that this features would be incredibly valuable for small businesses. Large companies don’t care to pay their invoices on time (even net 60 and 90), they know late fees are mostly empty threats, and there’s no better way to ruin a working relationship than having to nag them about owing interest. This is more than just a feature request, it’s fundamental to the survival of small businesses. Big companies don’t care about threats, there needs to be punitive damages or else they won’t lift a finger.

  • Jo Benge commented  ·   ·  Report

    Surely this is an important feature that Xero should have prioritised in the 10 years it has been raised as an issue! An old system I used that was implemented in 1997 had this feature available!

  • Nathan Elston commented  ·   ·  Report

    So I'm assuming that if this posted 11 years ago, development at Xero is rolling at a snails pace or his will never be implemented

  • Denym Bird commented  ·   ·  Report

    While Xero doesn't natively support this, 3rd party apps have picked up this challenge, apps like Paidnice (https://paidnice.com/) look to work well to add interest to late invoices, including taking into account credit against them.

  • Andy S commented  ·   ·  Report

    Putting some development time behind this would yield a feature that would be hugely valuable. It's crazy that it's not present or on the roadmap. People are having to pay $100's monthly to add this on to their xero subscriptions currently

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