We had a customer who owed us on two invoices it was dragging out for nearly 18 months. Anyway we advised all our customers as of 1 July 17 any outstanding balances would incur a 1.5% charge. We have been applying this on our monthly statement to above mentioned client. Where by now he owes $6000 in these charges. He has just paid one of the smaller invoices if I process this payment will the interest charges disappear? I note each month it says no AR transaction is recorded. We really want to hold him to account on this as it has been dragging on for over 18months. Not sure how to process this payment. Note he still owes $19k on another invoice.
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