Apply interest to an invoice

Learn how to enable interest for specific matters and display interest amounts to client invoices in the triConvey Companion Site web app.

Table of Contents

• Set the interest rate and grace period
• Displaying Interest on Invoices
• How interest is calculated

Set the interest rate and grace period

Interest settings are enabled on a per-matter basis. To set this up:

1.    Open a Matter from triConvey Companion Site Web App.

2.    Select Edit Matter.

3.    Select Late Payment from the Quick Links menu.

4.    Enter an interest rate per annum amount in the % p.a. field.

5.    Select if you wish to provide a grace period and, if so, enter the number of days.

6.    If you have entered a grace period, select whether you want interest to calculate from the Invoice Due Date or from After Grace Period.

7.    After enabling interest on the matter, you can choose to apply interest to past-due balances.

Tip:  Once interest is applied to an invoice, it cannot be removed.  

This prompt will only appear IF there are prior unpaid invoices on the matter.

Displaying Interest on Invoices

1.    Select the gear icon on the top-right corner of triConvey Companion Site web app.

2.    Select Firm Settings.

3.    Select Invoice Settings from the left panel and then the PDF Invoices tab.

4.    Scroll down to the Interest section.

5.    Select Custom Text and enter the heading of your choice.

6.    On the invoice, interest is shown as a separate sub-total on both the current invoice and the prior balances section.  These lines only show up if interest has been enabled on the matter.

How interest is calculated

Recurring interest will be based on the current unpaid amount on the invoice (excluding previous interest added on the invoice).

The interest is excluded from balances throughout triConvey unless otherwise stated. This also applies to reports.