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Is Interest Paid Off First for a Partial Payment?

Objective:

  • Will the Interest or principle be paid for a partial payment
  • How is Interest Paid on a Partial Payment on an Invoice
  • When will Interest be paid if a partial payment is made on a bill

Environment:

  • Clio Manage

Additional Information:

  • n/a

Answer:

The Interest will be paid proportionately to the amount paid on the total outstanding. Both Principle and Interest will decrease.

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