NewswireToday - /newswire/ -
Farington, Lancashire, United Kingdom, 2013/05/10 - Debt recovery specialists Safe Collections have announced the release of the new version of their popular iOS and BlackBerry app, Late Payment Calculator, for handsets running the Android operating system - Safe-Collections.com.
With this intuitive touchscreen app, creditors can:
• calculate the amount owed by debtors;
• add appropriate fees and statutory interest;
• download the Safe Collections guide to credit control and debt recovery;
• appoint Safe Collections to pursue for payment on overdue debts.
Late Payment Calculator is the easiest way to check how much it is legal to charge on overdue accounts, under the UK's late payments legislation.
Simply enter the original invoice amount, the original deadline, and the date on which final payment will be received.
Hit 'Calculate', and the app gives you a complete breakdown of the original amount owed, any permissible fixed fees that can be charged, and the statutory interest that can be added on top.
This gives you a clear, no-nonsense total amount that you can charge to your client, in the knowledge that UK late payments legislation is on your side.
No Compromise on Security
Late Payment Calculator respects the need for privacy and security when working with financial information, which is why it will not ask for any permissions from your phone or Android tablet in order to run.
That means the app does not have direct access to any of your handset's information - such as contact names and phone numbers - or external features like internet access.
Any information you provide it with in order to calculate your late payments resides solely within the app, giving you peace of mind that your finances will be treated with absolute privacy during any calculations.
Catering for Android Users
Sid Home MICM, managing director of Safe Collections, says: "In May 2010, Safe Collections became the first company to release a free iPhone app to help UK business owners. With more business owners making increasing use of smartphones to manage their enterprises on the move, it seemed only sensible to provide them with a simple and effective tool to calculate late payments anywhere.
"Android and iOS account for 90% of the consumer smartphone market1, and with our existing BlackBerry app also still available, we hope we have now made Late Payment Calculator available to the vast majority of business owners throughout the UK, regardless of which brand of mobile device they use."
For difficult contracts where the invoice due date is open to individual interpretation, or where a rate of interest has been agreed other than the Bank of England reference rate, the app has several options to help you pursue your client for payment.
These include a one-tap download button to receive Safe Collections' guide to credit control and debt recovery, along with direct contact details to enlist Safe Collections' help in pursuing the debt.
Late Payment Calculator is available now from Safe Collections Ltd in the iTunes App Store, BlackBerry World and Google Play marketplaces.