How to Set / Change Interest Rate on Invoices

Default Interest Rate:

The default interest rate used on all invoices can be set as below:

Select the Company module icon > Defaults tab:

In the above example, interest at an annual rate of 18% will begin to accrue at 30 days after the posted date of the invoice. These settings are used for all invoices that are posted.

Setting Interest Rates for Matters that Differs from the Default Rate:

Interest rates may be set for individual matters at rates that differ from the default rate above. To set an interest rate for an individual matter:

Select the Client module icon > Matter tab.

Enter the file number and click OK.

Select the "Billing" side menu option:

The default Rate and Interest Free days are set to "Std", which means that the default rate/days are used to calculate interest.

To use a different Interest Rate and Interest Free Days, simply type in the values and Accept.