An unpaid invoice is an outstanding bill not paid by the due date or within the agreed-upon payment terms. As a Lawcus user, you may sometimes encounter situations where you need to add interest to unpaid invoices. Although Lawcus does not have a built-in feature specifically for calculating interest, you can still accomplish this by following a manual process.
To add interest to unpaid invoices in Lawcus, follow these steps:
Create a flat fee entry: Generate a flat fee entry in Lawcus and name it "Interest" or "Late Payment Fee" to represent the added charges for an unpaid invoice.
Apply taxes (optional): If desired, include taxes on the interest amount by specifying the applicable tax rate in the interest entry.
Remember to review local laws and regulations concerning interest charges for unpaid invoices.
For further assistance, please reach out to Lawcus support.