Timeslips is Calculating Interest on an old "No Charge" Slip

Question

This is my setup under Arrangement 2: 12%, Compound, Charge interest at 30 days, Grace period 0, last bill date March 7. Problem: Clients are being charged interest even though they paid the balance in full on March 22. I checked around to see why and found under Client History a charge of $945 designated "Unbillable Fees and Costs. I found that the 945 "No Charge" was for the initial consultation back in February. Problem: I cannot change the $945 from "No Charge" to "Do Not Bill" because the slip cannot be revised after the bill has been sent. How do I get Timeslips to quit charging interest on a "No Charge" fee?

Nancy Duhon · Accepted Answer

Well, the short answer is that Timeslips does not charge interest on No Charge slips.

It doesn't charge interest based on slips at all. It calculates it based on the Aged Balance of the Invoice. It does not care which slips made up the invoice charges.

You can see exactly how Timeslips is calculating interest if you run a PreBill Worksheet. I suspect it is because it is trying to charge interest for March 7 thru March 22 since you have a Zero Grace Period. But, I would check the worksheet first.

Flowers · Answer

You are right. After more research, I found that the 945 is a balance recognized as "partially paid" in Timeslips. The March 7 balance was paid in full on March 22 and shows $0.00 balance. So, for now, I will have to manually adjust the client's April 7 bill, removing the interest until I figure this out. 
 
The problem stemmed from the client 30 days later asking to convert one (already approved Feb 7) invoice into two separate invoices. This required creating a second client name. Then I had to manually divide the older (Feb 7) invoice into two separate invoices and submit them to the client for payment. Then in timeslips, I made the necessary Feb 7 credits and transfers that were then reflected as previous balances due on the March 7 invoices. *Whew* 
 
The current March 7 invoices correctly equaled the total of the formerly single invoices. My input in Timeslips correctly reflected the balances owing on both bills. 
 
Note: To complicate things, we started charging interest on all outstanding balances as of March 7 invoices. 
 
The client's companies paid both balances owing in full by March 22. Yet, an amount -- 945 (from February) -- is showing as partially paid only in Timeslips, and interest on the 945 (on a "previous balance") is showing on the new April 7 invoice. I know my first step is to find the 945. Thank you for your help.

Sage Timeslips

Timeslips is Calculating Interest on an old "No Charge" Slip

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