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Late Payment fees in Xero

  • Member PM.Dip
  • Practice Licence
  • 60 posts
  • # 118179

Hello,

I use Xero for one of my clients and they need to charge late payment interest to some customers. My client raises their own sales invoices and have previously raised a sales invoice to charge a customer late payment interest. However, I don't believe this is the correct way because late payment interest charge is not a sale. 

Once the late payment interest charge has been paid by the customer then I would post the incoming payment straight to the nominal ledger. Is this right? If this is right, then is there any way to record the pending charge in Xero so you know it is awaiting payment?

Thanks in advance

Clair

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