teamspace calculates late-payment interest to the day and sends it with the dunning notice.

Once a payment deadline is missed, the invoice can be dunned and late-payment interest applied. In Germany, the rate is the central-bank base rate plus a surcharge:

Base rate and surcharge are added to give the late-payment interest rate. It is usually charged on the gross amount, because most companies are taxed on an accrual basis: VAT is owed in the period the receivable arises, not when the invoice is paid.

Interest is calculated to the day from the moment the due date is missed. Each dunning stage can apply a different rate and fix fees. The complete dunning run can be automated; fees and interest are computed and applied automatically.

Incoming payments can be captured manually or via the bank interface, in your home or a foreign currency. The payment status changes to partial or fully paid. The Payments tab inside each invoice gives an overview of every captured payment.

Payments are treated as their own system element and bundled in the Payments tab within the invoice. Invoices already created and paid in full or in part are given a matching payment element retroactively, in the amount paid so far.