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How to calculate late fees on invoices and when to charge them

How to calculate late fees on invoices and when to charge them
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The math behind late payment charges is simple. On a $5,000 invoice at 1.5% per month, the fee is $75. The harder part is applying the calculation consistently and building the policy around it so the fee holds up when a customer pushes back. Most companies have late fee terms buried somewhere in...

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