If a Bill's Due Date Falls Sooner Than The End of the Grace Period, When Will the First Interest Charge Appear?

December 15, 2020 04:00

Objective:

When is interest charged if the Due Date falls before the end of the Grace Period?

Environment:

Clio Manage

Answer:

The Due Date will override the Grace Period. So if you have a bill issued on 01/01/19 and due on 01/15/19 with a grace period of 30 days, the first interest charge will appear 1 day after the due date (disregarding the Grace Period).