Glenda, you will need to ascertain the law of your state with respect to the payment of interest and/or late fees on delinquent accounts. In most states you need to have a written agreement up front with the client in order to charge late fees and/or interest, or you need to have a statute in force that provides for ot. Absent that, most states do not allow you to charge interest or late fees. In answer to your question about offending clients, you probably will, but as you indicated who needs them if they don'y pay on time. Your time is more effectively spent seeking good clients rather than spending hours of bookkeeping time on computing interest for which you will not be paid
to post a reply:
login - or -
register