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The Advanced Late Payment Interest Calculator makes creating and managing claims using
the Late payment of Commercial debts Interest act simple and quick
The calculator has many features
such as a detailed breakdown of the calculation result
Unpaid claims update interest on a daily basis
so there is no need to recalculate the claim
The client details can be added or saved to an address book where
they can be reused saving time
The calculator history allows you to view and edit all previous calculations
and gives you a snapshot what is owed at today’s date
You can add an optional discount if the debt is paid within a specified period to help promote prompt payment
When you receive a part payment
you can deduct it from the claim and the claim will automatically RECALCULATE the total owed
then continue to add interest on a daily basis
Claims can also be backdated 6 years retrospectively for invoices that have been paid, but were paid late
You can send the debtor a claim by email or post with all necessary details filled in
There are different claim letters depending on the type of claim being made
The debtor can view the claim online at any time. The claim updates on a daily basis
showing the latest interest and total owed
The debtor can choose the method of payment such as Cheque
Bacs
or the faster payment service, and if required, extra interest is added accordingly
please your other videos to learn more about the advanced calculator