Apply interest to late payments in Sage Cloud Accounting

Easy Interest, a powerful Sage add-on, empowers you to manage unpaid invoices, and ultimately boost your business financial health

Imagine this: a customer invoice sits unpaid for weeks, tying up valuable funds. EasyInterest allows you to easily calculate and apply interest to overdue invoices in minutes, acting as a gentle reminder and encouraging prompt settlement. You can set flexible rules to trigger fees at specific intervals, ensuring consistent enforcement.

Interest is applied as a customer adjustment on the customer statement

Set your default interest rate that is applied across all your client invoices or set custom interest rates for individual clients

Easily reverse interest that has previously been applied. This will added as a customer adjustment within your Sage account.

Send personalized emails and SMS reminders to customers about overdue invoices and upcoming interest fees This proactive approach improves communication and increases the likelihood of timely payments.

Get started in just a few minutes

Create an Account

Start by creating your EasyInterest account, adding your business details, and syncing your Sage Cloud account. All your debtors will be populated from your Sage profile.

Adjust your settings

Set your business terms, such as the default interest rate and/or custom interest rates according to individual customer accounts. You can also select if customer accounts should be ignored from receiving interest.

Apply Interest

Calculate interest on outstanding customer balances and apply the interest to your Sage Account in a few steps. You have the power to reverse interest previously applied to a customer’s account.

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How much interest you could charge

Calculate how much interest you could be charging on your outstanding balance

Outstanding Balance

R100,000

Annual Interest Rate (max 24%)

16%

Interest Calculated: R4 455

Sage Cloud Accounting offers several benefits for businesses in South Africa, making it a popular choice for small and medium-sized enterprises.

Streamlined workflows: Automate tasks like invoicing, expense tracking, and bank reconciliations

Expense Tracking: Capture and categorize expenses easily, including mileage and receipts.

Bank Reconciliation: Streamline bank reconciliations with automatic matching and import functionality.

Inventory Management: Track inventory levels, manage stock, and generate purchase orders.

Reporting: Generate insightful reports and key performance indicators through interactive dashboards.

Tax Compliance: Stay compliant with South African tax regulations with automated calculations and reporting for VAT and other taxes.

Integrations: Sage Cloud Accounting integrates with a wide range of other business applications including Easy Interest

Streamline Finances and manage overdue customer accounts with Easy Interest for Sage Cloud Accounting South Africa

Please note that EasyInterest only integrates with Sage Cloud Accouting profiles in South Africa at this stage. Contact us should you be using Sage in another country.