invoice late fee calculator
Client ghosting your invoice? Calculate daily simple interest, optional contract late fees, and a firm reminder email for an overdue freelance invoice.
late fee summary
- Original invoice
- $2,000
- Simple interest accrued (15 days)
- $8.22
- Fixed admin/late fee
- $40
- New total due
- $2,048.22
Reminder email
This uses daily simple interest: invoice amount × annual rate ÷ 365 × days overdue. Add admin or compensation fees only when your contract or local rules allow them.
Made with 💛 by TheMinCave.
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This Invoice Late Fee Calculator provides estimates only and does not constitute legal or financial advice. Statutory interest rates and maximum allowable penalties vary significantly by jurisdiction. Ensure your late fees comply with local laws and your contractual agreements.
FAQs on charging freelance late fees
What should I check before charging interest on a late invoice?
Check your contract, payment terms, client type, and local rules before adding interest or late fees. Some places have statutory late-payment rules, while others depend heavily on what was agreed in writing. This calculator estimates the math only; it does not confirm whether a charge is enforceable.
Should I include a late fee policy in my freelance contract?
Yes. Put the payment deadline, interest rate, late-fee format, and any fixed admin or compensation fee in the contract before work starts. Clear terms make payment follow-up easier and reduce disputes when an invoice becomes overdue.
How do I work out the interest owed on a late invoice?
This calculator uses daily simple interest: invoice amount × annual interest rate ÷ 365 × days overdue. It then adds an optional one-time fixed fee or one-time percentage fee if your contract or local rules allow that extra charge.
When should I send a late fee reminder?
Send a friendly reminder shortly after the due date, then send a firmer follow-up if payment is still missing after your stated grace period. Apply late fees only when your payment terms, contract, or local rules support them.
