Calculate Late Payment Fees
Calculate late fees on overdue invoices. Daily, monthly, and total penalties by amount and terms.
भारत में
Interest on delayed payments: 1-2%/month typical (contractual)। MSME Act: buyer MUST pay MSME within 45 days। Interest: 3× RBI bank rate (~24%) on delay। GST invoice: 18% interest on late GST payment। MSMED Act is powerful — use it!
Recovery
MSME Samadhaan portal: online complaint for delayed payments। Legal notice: ₹2,000-5,000 (lawyer)। Effective: most companies pay after legal notice।
The average small business has $84,000 in unpaid invoices at any given time. Offering a 2% discount for payment within 10 days (common terms: "2/10 Net 30") costs you 2% but eliminates 30-60 days of cash flow delay. For businesses with tight cash flow, the discount pays for itself through reduced borrowing costs.
