Free tool
Late payment fee calculator
Overview
Enter the invoice amount, how many days late it is and your monthly rate. See the interest, a flat fee if you add one, and the total now due.
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Word templates · $19
Small Business Letter and Notice Templates
Fill in the brackets and send: the invoices, reminders and letters small businesses, landlords, associations and nonprofits write over and over.
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Free to use. Paste this where you want it to appear. It runs in the visitor's browser, so nothing they enter is sent to us.
How it works
How it works
Interest is amount x monthly rate x (days late / 30). Any flat fee is added once. The result is simple interest, not compounded.
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Whether you can charge a late fee, and how much, depends on your agreement and the law that applies. State the terms before the work and on every invoice. Ask an attorney if you are unsure.
FAQ
About this calculator
How is the late charge calculated?
Interest is the invoice amount times the monthly rate, prorated for the days late on a 30-day month. A flat fee, if you enter one, is added once.
Can I charge a late fee?
That depends on your contract, your invoice terms and the law that applies. State your terms before the work and on every invoice, and ask an attorney if you are unsure.
What rate do people use?
There is no universal rate. A common approach is a modest monthly percentage stated in the agreement. Check any limits that apply to you.
Does a late fee get invoices paid?
Clear terms, prompt invoicing and a polite follow-up before and after the due date usually matter more than the fee itself.
Is anything saved?
No. The math runs in your browser and nothing you enter is sent to us.
Make invoices clear with the free invoice generator, see how long customers take with days sales outstanding, or read about reading an aging report. More free tools: Inventory turnover calculator, Sales commission calculator, Depreciation calculator, or see all free tools.
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General information, not tax or legal advice. How we write and check our tools.
Word templates
Small Business Letter and Notice Templates
Fill in the brackets and send: the invoices, reminders and letters small businesses, landlords, associations and nonprofits write over and over.
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Tallyfinch
Books you keep on your own computer
Tallyfinch does invoices, bills, bank import, reconciliation and the main reports, in a file you own. $99 once, then $5 a month for updates; the app keeps working if you stop the plan. It does not do payroll or sales tax filing. The free download records up to 60 entries.
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