How to Set up or change Simple Interest rate?

To add or change the simple interest rate in the invoices follows the below steps:

Step 1: Go to Admin dashboard >> Income Tracker >> Setup >> Auto Invoicing

Step 2: Scroll to the bottom very bottom of the page. Here you will find the Late payment interest setup. Click on the “Edit” button.

Step 3: Enter the rate of Interest in the text box next to “Simple Interest (% pa)” in number.

Step 4: Click “Save”.

This updated simple rate of interest will be applicable to the next coming invoices generated through the system.