When Charge Interest is enabled for your firm, then ZenCase allows you to configure matters with charge interest. Interest can be configured to be compounding (optional), set the annual percentage rate, interest interval days, and grace period.
Note: You can override the default client charge interest configurations by disabling the "Use Client Default" setting BEFORE you can configure matter level charge interest settings.
How To Setup Charge Interest For Matters
Firm administrators must enable interest for the firm before you can configure matter level charge interest settings.
In the left navigation, click "Matters".
On the Matters list page, click on the matter name in the "Matter Name" column to view the matter.
You will be redirected to the Matter details page for a specific matter.
Click on the "Settings" tab.
Click on "Invoices" button in the left sidebar.
Under Interest Settings, you will see two toggle buttons for:
Use Client Default
In order to override the client default charge interest settings, you will need to disable the "Use Client Default" option by clicking on the toggle button.
Note: The toggle button will be grey when disabled.
Click the toggle button to enabled the "Charge Interest" option.
Note: The toggle button will be blue when enabled.
You will see new configuration options that will be the default for all invoices for the matter.
Check the "Compounding?" option to enable compounding interest.
Enter Annual Percentage Rate (%)
Enter Interest Interval (Days)
Enter Grace Period (Days)
Under the Default Invoice PDF Settings
When "Use Client Default" is disabled, you can configure matter level invoice pdf settings.
Under Show Client Summary, you can check to show the "Interest" line item on invoices.
Under Show Matter Summary, you can check to show the "Interest" line item on invoices.
Under Show Invoice Summary, you can check to show the "Interest" line item on invoices.
Congratulations! You have successfully setup charge interest for your matter invoices.
Let us know if you have any questions!