Late fee calculator
Work out what a late customer owes. Add a monthly interest rate, a flat late fee or both, and see the total for the days the invoice was overdue.
How to use it
- You enter the data
- Smallo works it out
- You get the result
- Enter the invoice amount, the due date and the payment date.
- Enter the monthly interest rate and the flat late fee you use.
- Read the days late, the interest and the total to collect.
Frequently asked questions
Can I charge any late fee I want?
No. State laws limit late fees and interest, and you can only charge them if your contract or invoice terms say so in advance.
How is the interest calculated?
The monthly rate is turned into a yearly rate and applied per day: amount x (monthly rate x 12) x days late / 365. 1.5% a month equals 18% a year.