KCS - How To Add Interest to Existing Outstanding Bills

Objective:

  • Charge Clients interest on Overdue Bills
  • How to add interest to outstanding Bills
  • How to apply interest to previous Bills
  • How to add interest to previous Bill generated

Environment:

  • Clio Web 
  • Bills

Additional Information:

  • This article assumes that Interest is being added to Bills after they have become overdue and that a Payment Profile was not previously assigned to a Contact, or was changed after the Bill was generated.
  • Please note that if you follow the steps below you will need to wait until the next day to see that the Bill has updated with the back dated Interest

Procedure:

  1. Ensure that a Payment Profile has been created and assigned to the Contact (Payment Profiles with Interest)
  2. Click on Bills > Awaiting Payment 
  3. Click View below the overdue Invoice
  4. Record all relevant details needed to "re-create" it (Client, Matter number, Issue Date, Due Date, Invoice Total, Line Items Date Range, Bill Total)
  5. Void the Invoice (How to Void Bills)
  6. Go to Bills > Billable Clients
  7. Filter for the Client, Matter Number, and Activities date range recorded in step 3
  8. Check the box beside the Client name and click Generate
  9. Backdate the Due Date and Issue Date to the original Invoice and if applicable, apply Taxes
  10. Review Invoice in Draft and ensure the Total owing matches the original Invoice
  11. To re-number the Invoice number to match the original Bill, click Edit and record the appropriate Invoice Number before saving

 

Was this article helpful?
This information is confusing or wrong
This isn't the information that I was looking for
I don't like this functionality