Calculation Of Interest On Four Invoices

Hello Peter
The calculator only works for one invoice at a time. This is for 2 reasons. Each unpaid, or paid late invoice qualifies for interest and compensation. So if you have 4 invoices that are £50.00 each and are late, each invoice would be liable for a £40.00 compensation fee and daily interest.

The complexities of creating a calculator for multiple claims together is a bit of a nightmare. For example if you claimed for the above 4 invoices at the same time each would be racking up a daily interest rate, if the debtor pays 2 invoices, part pays another then disputes the 4th one it would quickly become difficult to use the calculator with you having to stop one claim while the dispute is resolved, recalculate the partial payment and re-issue a new claim. Best to keep life simple and issue one claim per invoice. It may seem longer in the short term but easier in the long run.

As it is the calculator can handle multiple part payments and retrospective claims issuing different letters to suit.

I hope that answers your question but please contact me if you have any other questions and I will help you as much as I can.

Best regards

David

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