Interest on Accounts Receivable Invoices

I am wondering if anyone adds interest to outstanding non-folio AR invoices?

Comments

  • In Revelstoke we add interest to unpaid AR invoices (trade AR). I believe it is 1% per month.

  • I like that idea, do you have it in a Bylaw Sheanna?

  • We charge 1.5% per month and it is in our Fees and Charges Bylaw.

  • From The District of Summerland Fees & Charges Bylaw.

    To charge interest, compounded monthly on overdue accounts,
    Interest per month 2%

  • The City of Campbell River is looking at adding an AR Interest Fee to our Miscellaneous Fees and Charges Bylaw. Curious to know what rate some other municipalities are charging?

Sign In or Register to comment.