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title: "Interest and Accounting Charges"
canonical: "https://kb.myframeworks.com.au/space/FRAM/28382388/Interest%20and%20Accounting%20Charges"
format: markdown
---
Many businesses attempt to levy interest and/or accounting charges on accounts not paid within the standard terms. This may be worthwhile if it ensures that customers pay within the agreed terms but, it can give rise to a loss of client goodwill.

It is important that the possibility of incurring penalties is explained as part of the credit application process and penalty details be printed on the appropriate sales documentation so that the customer cannot use these charges as basis for disputing an account.