Reminder fee/late fee

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As of 2013, creditors (the issuer of the invoice) have the right to charge an 450 SEK fee for late payment if the debtor is a business or authority. If the customer is a private individual the maximum fee may only be 60 SEK. The fee can only be charged once per bill.

Automatic reminders
For each invoice you can activate automatic reminders to be sent out if the invoice passes its due date. You can also set default settings under Company settingsInvoice settings there you can choose when and how many reminders that you want to be sent out.

Late interest fee
Late interest fee is something the can be added to invoices that have passed their due date. The earliest that the interest can be added is 30 days after the invoice was issued. The interest rate will be updated for each day the invoice remains unpaid. 

Interest on late payments are regulated in the Swedish Interest act (1975:635). If nothing else has been agreed, interest on late payments is 7.5% per year plus the current central bank interest rate, which currently means total interest is usually between 8 and 9%. Be aware that interest on late payments stops being applied to an invoice that has been partly paid.

 

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