Introducing Clio Interest Calculations
Occasionally (okay, always), we’ll release a new set of features that will completely revolutionize how you use Clio. We’re incredibly proud to introduce Interest Calculations, a brand new feature set that will make billing easier than ever, and help you get paid sooner.
No, it’s not a solution for deadbeat clients, but it IS a new feature set that allows you to quickly and seamlessly:
- Apply early payment rewards. You can attach this to your payment profile and incentivize your clients to pay early (or at least on time) by determining a specific window during which an early payment discount will be available.
- Automate interest on delinquent bills. Also applied through the payment profile, this option will enable you to specify interest terms that are unique to each profile. Have diligently paying clients who you’d like to spare from the horrors of interest? You can do that. Have clients who need a little extra push to pay their bills on time? You can do that too! Specify a grace period, interest rate and interest term for each payment profile and let Clio take the rest.
- Issue dedicated Statements of Account, providing your clients with an overview of their receivables. You’re now able to generate Statements of Account that will let your clients know exactly what they owe and what’s overdue, separate from the bills you issue. Simply access the ‘Statement of Account’ option from within the Bills tab to provide this option to your clients.
- Write off delinquent bills or apply credit notes. Given up hope that you’ll ever be paid? Clio now offers a simple one-click option for writing off bills or bill remainders and saving the transaction as a credit note.
