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1. Invoicing: Calculate and charge interest on overdue invoices

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   submitted  ·  29 comments  ·  For small businesses » Business features  ·  delete…  ·  Admin →
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   Nicola Truuts commented  ·  06 October, 2024  ·  Edit…  ·  delete…

   Any update from the Xero team on this much needed feature. Seems like a no brainer to me. Such a pain to try and calculate interest on overdue invoices manually. I would have thought it would be an important feature in any financial system.. Do the Xero people listen to what the customers are wanting?

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   Nicola Truuts supported this idea  ·  06 October, 2024

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

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   174 comments  ·  For small businesses » Business features  ·  delete…  ·  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

   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

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   Nicola Truuts commented  ·  07 February, 2024  ·  Edit…  ·  delete…

   Extremely disappointing that the ability to add interest to an invoice is still not available. Do you even bother to actually listen to your customers??

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   Nicola Truuts supported this idea  ·  07 February, 2024
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   Nicola Truuts commented  ·  12 May, 2023  ·  Edit…  ·  delete…

   Hi team Xero, being able to add penalty interest to an overdue invoice should absolutely be a function in Xero. We pay good money to use your company and would expect this basic feature to be an integral part of Xero as it is with other financial systems.
   Please provide a time frame for when this feature will be available.
   Thanks

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