Overdue interest in Scoro is a calculated penalty amount used to track and display fees for late invoice payments. It can be configured globally, set in client profiles, or applied directly to individual documents.
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1. What is overdue interest?
Overdue interest is the penalty amount for late invoice payments. It functions as a calculated, displayed amount; it is not automatically added as an extra invoice line, included in the invoice total, or added as a separate financial transaction.
Here are a few key things to remember about overdue interest in Scoro:
- Daily rates only: Overdue interest can only be set as a daily percentage. For example, entering 0.05% means 0.05% per overdue day. Scoro does not support monthly or annual overdue interest rates.
- No grace period: There is no separate grace period setting. Counting starts the day after the invoice due date, meaning an invoice due today is not yet considered overdue.
- Not included in reporting or calculation tables: Overdue interest is not included in invoice line calculation tables, standard invoice totals, or revenue reports. It is stored as a daily rate on the invoice and can be shown in specific overdue-related locations, such as invoice list views and PDF templates.
2. Setting overdue interest
You can set overdue interest in Scoro:
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As a site-wide default preference:
- Use the Overdue interest field under Settings > Sales and finance > Invoices to set the default overdue interest rate that will be automatically applied when creating a new invoice, scheduled invoice, or prepayment invoice. The default site-wide overdue interest serves as your baseline rate and is just the default – you can always modify it as needed when creating a new document.
- Use the Overdue interest field under Settings > Sales and finance > Invoices to set the default overdue interest rate that will be automatically applied when creating a new invoice, scheduled invoice, or prepayment invoice. The default site-wide overdue interest serves as your baseline rate and is just the default – you can always modify it as needed when creating a new document.
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On client profiles:
- Go to Settings > Sales and finance > Client profiles, enable the checkbox next to the Overdue interest field, and enter the necessary rate. Learn more about client profiles.
- Go to Settings > Sales and finance > Client profiles, enable the checkbox next to the Overdue interest field, and enter the necessary rate. Learn more about client profiles.
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On individual invoices, prepayment invoices, and scheduled invoices:
- Enter the daily rate in the Overdue interest field while creating the document. Learn more about creating invoices, scheduled invoices, or prepayment invoices.
- Enter the daily rate in the Overdue interest field while creating the document. Learn more about creating invoices, scheduled invoices, or prepayment invoices.
3. Adding overdue interest details to document PDFs
While the overdue interest is not added as an invoice line item or included in the total sum calculation, you can pull the overdue interest details onto the invoice PDFs using the following dynamic fields under the Invoice type to pull these details into your template:
- [a]doc_fine[/a] – overdue interest rate
- [a]doc_fines_sum[/a] – total sum of overdue interest
For more guidance on modifying PDFs and using dynamic fields, see our Creating, modifying, and deleting a PDF template article.
Note! There is no dynamic field to display the number of overdue days in the invoice PDF. However, overdue days can be displayed in the invoice list.
4. Displaying overdue interest in the invoice list
To display the number of overdue days on your invoice list:
- Click the View button, then click on Data columns.
- Enable the Overdue data column and click Display.
Once enabled, the Overdue column will appear on your invoice list view, displaying the number of overdue days for each invoice.