Remove interest from an invoice

Available on Smokeball Bill, Boost and the Grow and Prosper+ Web App

You can remove interest from an existing invoice, at different times, depending on the invoice’s payment status:

Invoice with no payments and interest remaining

Invoice that has partial payments and interest remaining

Invoice that has been fully paid but just has interest remaining

Invoice with no payments and interest

  1. Edit the invoice to remove interest
  2. Select the Final tab and then select the Finalize Draft button

Invoice with partial payments and interest

  1. Remove or delete any payments made to the invoice.
  2. Edit the invoice to remove interest
  3. Select the Final tab
  4. Re-apply payments.
  5. Select the Finalize Draft button. 

Note: Removing interest from a partially paid invoice will affect bank reconciliation if the payments were from trust.

Fully paid invoice with interest

  1. Select the Waive button from the invoice screen.
  2. Select the Waive this invoice button from the prompt.

Remove interest from future invoices

If you need to remove interest from all future invoices associated with the matter, or if you need to adjust how interest is applied to future invoices, follow these steps:

  1. Select Edit Matter.
  2. Select Late Payment.
  3. Select Not Applicable if you do not wish to apply interest to any invoices.
  4. You can use the % field to adjust the interest amount and use the Grace Period field to determine how long it will take for interest to be applied. 

Note: editing interest in matter settings will not affect existing invoices. 

 

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