Add interest to an invoice

Modified on Wed, 7 Feb at 12:45 AM

This topic describes how to add interest to a cash receipt and adjust the invoice balance. 


Before you start: 


  1. Enter cash receipt payment details. 
  2. Enter cash receipt allocation details.

To add interest to an invoice and adjust the invoice balance: 


  1. In the 'Apply to invoice' field in the allocation details form, click the ellipsis. 
  2. In the unpaid invoices lookup, right-click the invoice and select 'Add interest' from the context menu.



Notes:


  1. For receipts for matter debtors you can calculate accrued interest and apply it to the relevant matter. 
  2. When receipting funds to a matter where interest is applied to the outstanding invoice, LawMaster allocates the Interest first and then follows with the fees, disbursements and GST. 
  3. If you receipt the interest first, then for the rest of the receipt, the interest (if previously fully paid) is zero and the allocation defaults to fees, Disbursement and GST. 



ℹ️  You can also: Instead of clicking the ellipsis, on your keyboard, with the field active press F5 to select from the lookup 


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