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

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   182 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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   Matt Boxwell commented  ·  14 December, 2023  ·  Edit…  ·  delete…

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

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   Matt Boxwell commented  ·  02 December, 2023  ·  Edit…  ·  delete…

   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.

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   Matt Boxwell commented  ·  01 December, 2023  ·  Edit…  ·  delete…

   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.

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   Matt Boxwell supported this idea  ·  16 May, 2023