Have you heard? We acquired Lexicata in the first milestone to creating a more advanced client engagement platform. Read more here.

KCS - Why is there future-dated Interest showing on my Bill?

Objective:

  • Why are future Interest charges being added to the Bill in advance?
  • Why is Interest being charged early?
  • Why are Interest charges being displayed on the Bills with a future date?
  • Future interest charges showing on Bills
  • Client being charged interest ahead of time

Environment:

  • Clio Web App

Additional Information:

n/a

Answer:

Under the section titled Interest on Other Invoices on your invoice, the Due On date indicates the date that the interest must be paid before accruing additional interest.

For example:

  • Interest accrues every 30 days
  • You have an invoice dated January 9, 2018
  • The first round of interest will be charged Feb 8, 2018 
  • The Due On date will show Mar 11, 2018 because the client has up until Mar 11, 2018 to pay that February interest charge. 
  • If the interest is not paid by Mar 11, 2018, further interest will be added.
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