Adding interest

Adding interest

Adding interest to overdue invoices

If you want to add interest to invoices that are overdue, click on admin and select ‘Add interest to overdues’.


  1. Select the company.
  2. Select the practitioner to bill the interest to.
  3. Choose between patients and third parties.
  4. Edit the interest percentage accordingly.
  5. Enter the date the interest should be applied.
  6. Enter the date all invoices created prior to should accrue the interest.
  7. Click retrieve.
  8. Select the invoice or click above the list in that window to select all.
  9. Click ‘generate interest invoices’.
  10. Click yes to apply the interest to all invoices selected.

Open a patient client card and acct summary to view the interest applied on the invoice summary tab.

Simple interest

Applying simple interest is a feature found under the admin menu, it will need to be enabled in program setup.

Setup > program setup, select billing and invoice billing.

Check off ‘use simple interest’ and set a default percentage. (This can be changed from the simple interest window as required).

 

Applying simple interest

Click on the admin menu and select simple interest.


  1. Search the client in the lookup field at the top.
  2. Filter the invoices to outstanding only and or exclude third-party. (Under the patient lookup field).
  3. Select a company from the dropdown.
  4. Highlight the invoices from the list that require the interest payment (ctrl + click to select multiple).
  5. Enter the percentage in the APR box and the date to apply it (in the middle of the window).
  6. Click ‘apply interest’.
  7. A warning will pop up, “Interest applied, would you like to print a statement?”.
  8. Click yes.
The following client statements window will open.

  1. Select a date range, company, and practitioner.
  2. Select payer, choose unpaid only and overdue warning if desired.
  3. Click generate statement.
  4. From here click on print or close.

Differences between adding interest to overdues and simple interest

  1. Simple interest will only apply interest to one patient at a time, adding interest to overdues can apply interest to multiple patients at a time.
  2. Adding interest to overdues will only allow small percentage rates (under 10%), simple interest is limitless.
  3. Adding interest to overdues will accumulate the interest additions, the simple interest will replace any previous simple interest rates that were applied to an invoice.



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