Invoice Late Fee Calculator
Calculate how much interest you should charge for overdue invoices. Stop letting clients treat you like a free bank.
Late Fee Calculator
Note: This calculator assumes simple monthly interest. Check your local usury laws regarding maximum allowable interest rates.
Is it legal to charge late fees?
Generally, yes. However, you must have this stated in your original contract or on the invoice itself ("Payment due in 30 days. 1.5% interest per month charged on overdue accounts").
What is a standard late fee?
The industry standard for freelancers and contractors is usually 1.5% per month (which equals 18% APR). Some go as high as 2% or as low as 0.5%.
Why you should charge late fees
Late fees aren't about making extra money. They are a psychological tool to get your client to prioritize your invoice over others. If there is no penalty for paying late, you will be the last one paid.
Want to skip the manual calculations?
VoiceInvoice does the math for you. Just speak your invoice items.