When determining how much interest you can charge on overdue invoices, keep in mind that the figure you settle on should be fair and reasonable. In this article we outline how much you can, and should charge in The United States, Canada, The United Kingdom, Australia, South Africa and New Zealand.

Accounts receivable software automates a business’s invoicing, payment and credit management processes. It offers users a collection of tools they can use to manage their finances better.

Businesses in Canada can charge late fees on overdue invoices either as a fixed penalty fee or by adding interest at the average bank rate plus 3%. In this article we explore the finer details on how much you can charge for late fees in Canada.

Late payment fees are legal throughout South Africa. For the majority of industries, the law doesn’t specifically outline what you are entitled to charge in late fees. In this article we explore how you can legally charge for Late Fees in South Africa.

Businesses in Australia can charge fixed penalty late fees or interest on overdue invoices capped at around 10% annually. We’ll break down how much you can charge in late fees in Australia, and how you can apply them legally.

We cover the best practices for charging late fees let’s look at the figures in more detail. How much can you charge? How do you work out the interest fee? What level of overdue late fee is considered “reasonable” in New Zealand?