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Invoicing: Calculate and charge interest on overdue invoices

Good Day

We would like to request that the feature or the option to charge interest on customers for overdue accounts be developed as most other accounting packages has this feature and it becomes time consuming when this has to be calculated and brought in as additional invoices when there are numerous accounts that this needs to be done on.

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Nicole du Plooy shared this idea  ·   ·  Report…  ·  Admin →
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  • Brenda Templin commented  ·   ·  Report

    This is a very important feature for businesses - we need to be able to add interest on late payments or we would lose a lot of money. It is time consuming to need to do this manually.

  • Deanne Perry commented  ·   ·  Report

    We have just moved from QuickBooks to Xero, not having this feature in Xero is VERY disappointing. We have a large customer base and find not having this feature sets us back greatly.

  • Evette Lesch commented  ·   ·  Report

    Xero, why must we pay for this feature?? If we use another program as other users suggest we would be paying up to R1900 for a feature that should be standard?

  • Waseem Khan commented  ·   ·  Report

    Common Xero , we are all waiting on this ...
    please just tune in that one backend formula :)

  • Andrew Fairlie commented  ·   ·  Report

    This feature should be a standard option in any Business-focussed accounting software..

  • Kathy Skinner commented  ·   ·  Report

    Should be one of the automated features, Instabooks has this as part of their accounting package.

    "Charge late fees
    Add due dates and payment terms to your invoices. Automatically charge late fees for overdue invoices to motivate customers to pay your invoices on time. This practice will guarantee your positive cash flow and profit margin.

  • Marcia Donaldson commented  ·   ·  Report

    How is it possible that Xero has not yet added this feature?! This is extremely important for businesses!

  • Stuart Tilling commented  ·   ·  Report

    is anyone from Xero ever going to answer this question?? it looks like it gets ignored often and would be such a great feature to be able to use on our constant offenders!!

    To me this does not look like a very hard feature to be able to add as it is available and included in the price of most other accountancy apps and subscriptions these days.

    I am at the point now, where I may have to start looking at changing over to another provider if that cannot be an option at some point in the near future.

    Please advise if anyone dare at Xero!!

  • Tracey Whyte commented  ·   ·  Report

    This has been requested as far back as 2019. I see from other users' comments that Xero doesn't respond or provide any updates. Not good. Thumbs down Xero.

  • Don Bacon commented  ·   ·  Report

    Good afternoon
    Has any progress been made on this. I can't find any other posts or acknowledgement from Xero about this.

  • Antoinette Micallef commented  ·   ·  Report

    I agree. I was using MYOB prior to moving over to Xero. There are some functions that are standard with MYOB which are add on's in Xero. One of them is the ability to work out and charge interest on overdue invoices.

    I have looked at Latechaser and while this looks like a good program, it is simply not feasible for my business to have to pay another subscription for something that is free with my previous accounting program.

    Please look into adding this feature to Xero.

  • Rene Robertson commented  ·   ·  Report

    Yes this is one thing we miss about MYOB. Definitely a function that is missing and would be handy.

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