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How do I charge interest to an overdue account?
How do I charge interest to an overdue account?

Add interest to outstanding accounts

Adam Steiber avatar
Written by Adam Steiber
Updated over 2 years ago

To charge bad payers interest on their account:

  1. Go to people

  2. Open the relevant person record

  3. Click on more details

  4. Set a percentage in the default interest area

  5. Click save

  1. Go to the People tab

  2. Select Owners in the View dropdown

  3. Click on the owner you wish to charge interest

  4. Go to the Person Details tab

  5. Scroll down to the Financial Information section

  6. Enter the % interest you wish to charge the owner

  7. Press Save

Within the Month End process you will be asked whether you wish to charge interest to selected owners within Step 6. Untick those whom you don't wish to charge interest on overdue balances and then click Process

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