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

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   271 comments  ·  Invoices & quotes » Invoicing  ·  delete…  ·  Admin →
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   Accepted  ·  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

   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… more

   An error occurred while saving the comment
   Gideon Retief commented  ·  05 October, 2022  ·  Edit…  ·  delete…

   Hi all,

   There is an existing 3rd party add-on/app that you can use. We have been using it. It works, but we believe it could be better and we're investigating the feasibility of building the functionality ourselves.

   Feel free to contact me on gideon@foundationdigital.co.nz - I'm happy to share more.

   Save Submitting...
   Gideon Retief supported this idea  ·  01 September, 2022

2. Invoice - Prompt Payment / Settlement Discount

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   128 comments  ·  Invoices & quotes » Invoicing  ·  delete…  ·  Admin →
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   Accepted  ·  AdminKelly Munro (Community Manager, Xero) responded

   Hi everyone, we thoroughly appreciate everyone’s interest and support for enabling the ability to apply a prompt payment discount to invoices.

   We understand how a direct prompt payment discount feature would improve the efficiency and automate manual efforts currently involved for you all here, but would like to be transparent that this isn’t something we’ve been able to roadmap atm.

   Right now, one way to indicate that your business accepts or will apply a discount for prompt payment would be to write this into the invoice payment terms. When acted on there are a few ways you could consider recording this in Xero, such as;

   • Edit the invoice to apply a discount directly
   • Edit the invoice to add a negative line that directly draws down the total amount of the invoice
   • Apply a credit to the invoice for the portion of the discount

   We'd recommend connecting with your Xero advisor on how they'd recommend recording this in your org.

   Alternatively, there are connected invoicing apps that you can explore through our Xero App store.

   We'll continue to track support through this idea, and our product teams will continue to consider this in future planning, so if there’s any updates we’ll share here. Thanks

   Hi everyone, we thoroughly appreciate everyone’s interest and support for enabling the ability to apply a prompt payment discount to invoices.

   We understand how a direct prompt payment discount feature would improve the efficiency and automate manual efforts currently involved for you all here, but would like to be transparent that this isn’t something we’ve been able to roadmap atm.

   Right now, one way to indicate that your business accepts or will apply a discount for prompt payment would be to write this into the invoice payment terms. When acted on there are a few ways you could consider recording this in Xero, such as;

   • Edit the invoice to apply a discount directly
   • Edit the invoice to add a negative line that directly draws down the total amount of the invoice
   • Apply a credit to the invoice for the portion of the discount

   We'd recommend connecting with your Xero advisor… more