Reminders, late-payment interest and €40

Sending a reminder manually

On an unpaid invoice's detail, click Reminder. Vystav emails the customer the outstanding amount. The button shows how many reminders have already been sent. The customer must have an email address in their contact.

Automatic reminders

1. In Settings › , Company, under Invoicing, select Send reminders for unpaid invoices and save. This is disabled by default; nothing is sent without your knowledge.
2. Check the rules in Settings › , Reminders. There are three defaults: 3 days before the due date, on the due date, and 7 days after the due date, repeating every 7 days up to three times.
3. You can edit, pause or delete a rule, or add a new one. A negative number in Days after due date means days before the due date.
4. Edit the reminder text in Settings › , Emails.

An automatic reminder is sent only for an issued invoice that is neither cancelled nor paid. If you have agreed a grace period with a customer, disable Send automatic reminders in their contact. You can still send a reminder manually.

Statutory late-payment interest

If you select Include statutory late-payment interest in reminders in Settings › , Company, a reminder for an overdue invoice also states the interest as of today. You can also see the amount on the overdue invoice detail.

• Between businesses, late-payment interest is the ECB base rate plus 9 percentage points per year (§ 369 of the Slovak Commercial Code and § 1 of Slovak Government Regulation No. 21/2013 Z. z.).
• For a consumer, it is the ECB rate plus 5 percentage points (§ 517 of the Slovak Civil Code and § 3 of Slovak Government Regulation No. 87/1995 Z. z.). Vystav uses this calculation for contacts of type Individual. Enter a sole trader as a business with their registration number instead.
• Interest runs from the first day after the due date, for every calendar day, using a 365-day year.

Enter the ECB rate in ECB base rate (%); Vystav uses the rate entered there. The law ties interest to the rate in force on the first day of late payment, which applies throughout the delay. When the ECB changes its rate, update it in settings and check the reminder's interest amount for invoices that were already overdue before the change.

Fixed compensation of €40

When a business is late paying, the creditor is entitled to €40 in fixed compensation for recovery costs (§ 369c of the Slovak Commercial Code and § 2 of Slovak Government Regulation No. 21/2013 Z. z.). When late-payment interest is enabled, Vystav includes it in the overdue invoice reminder. It does not include it for a consumer, for whom this entitlement does not apply.

Pre-litigation demand

If an invoice is overdue and unpaid, its detail offers Pre-litigation demand. Vystav prepares a PDF with the amount owed and a 7-day payment deadline. If late-payment interest is enabled, the demand includes it too. You send the demand to the customer yourself, for example by registered post.