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Why Is Future-Dated Interest Showing on my Bill's Detailed Statement?

Objective:

  • Why are interest charges being displayed with a future date?
  • Why is future interest charges showing on my bills?
  • Why does a wrong date populate on interest at the bottom of my invoice?

Environment:

  • Clio Manage

Additional Information:

n/a

Answer:

Future dated interest is never shown or predicted. Only interest that has been generated and charged will be show.

If you have the Detailed Statement included within your Bill Theme, this will include the Interest On Other Invoices section. This section will display a Due On column, and not the date that the interest was issued. Since this date is a due date, it can be for a date in the future. The original bill that this interest belongs to will show a Issued On date.

The latest Due On date will also reflect the next date that interest will be charged, based on your Payment Profile assigned to the Contact. It is expected that the interest charge is to be paid before its due date to avoid further interest from being added to the Bill.

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