Late invoices carry interest and compensation by law. Almost nobody claims it.

Upload the unpaid-invoice export from your accounting software. Invoice Owed shows what each late customer owes you on top of the invoice under the Late Payment of Commercial Debts Act, and writes the letter that asks for it in your name.

See what you can claim Free to run. No card.

YOU ARE OWED            £18,420   7 late invoices

Statutory interest       £1,104   8 points over base rate
Fixed compensation         £490   £40, £70 or £100 per invoice
You can claim            £1,594   on top of the invoices

What the law says

When one business pays another late, the supplier is entitled to interest at 8 percentage points over the Bank of England base rate from the day after the due date, plus a fixed sum for each invoice: £40 under £1,000, £70 under £10,000, £100 from £10,000. No contract clause is needed. It applies to invoices already paid late as well as those still open.

What Invoice Owed does

Reads your export from Xero, QuickBooks, FreshBooks, Sage or a spreadsheet, works out the interest for every late day at the rate the statute fixes for that period, adds the compensation, and produces a schedule and a letter per customer. You send the letter. Nothing goes out in your name from us.

When to use it

• On the final reminder. Attach the schedule. A customer who has ignored three polite emails tends to pay when the number grows by the day.
• With customers you no longer work with. There is no relationship left to protect, and the sums are still owed for six years.
• At year end. Run the whole year's late payments and decide, customer by customer, what to claim.

Nothing invented

Every rate comes from a table of Bank of England reference rates with the date it was last checked. An invoice whose period is beyond that date is refused with a reason, never estimated. Consumer invoices are excluded because the Act does not cover them. Debts past the limitation period are flagged.

For bookkeepers

Run each client's aged debtors through it in an afternoon. The letters come out in the client's name, ready for them to send or for you to send on their behalf.