The "Billing" section of Leadtime defines the basics and standard settings for the company's billing and dunning processes.

The general external hourly rate that is to be set as the default for the company is defined here. Please note that you can define an individual hourly rate for each of your customers 👉 at organization level. If you do not enter an individual hourly rate for an organization, the standard hourly rate stored here will be used.

Invoice documents are based on text modules(see also below).

You can adapt these text modules for each language version (English and German) and specify the desired language version for each of your customers 👉 at organization level. This is particularly useful if you have customers both in Germany and in English-speaking countries. In the workspace settings, you specify which language version should be used by default in the invoice documents.

Here you can set what should happen by default in the event of an overdue invoice.

The "Default payment target" in days determines when an invoice is considered overdue (e.g. 30 days). This value can 👉 be overwritten at organization level. You can therefore grant individual customers a particularly long payment term , for example.

You can charge your customers dunning fees for overdue invoices. For B2B transactions in Germany and Austria, reminder fees of up to 40 euros are permitted by law (see Section 288 (5) BGB). For other European countries, the corresponding values must be entered manually.

The dunning fees can be adjusted 👉 at organization level. This gives you the option of suspending the fees for individual key customers so as not to jeopardize important business relationships.

If invoices are not paid on time, interest on arrears can be added to the reminder fees. However, interest may not be charged at any amount.

For business customers in Germany, default interest of 9% above the prime rate may be charged if an invoice is not paid on time.

An example of the calculation of default interest is as follows: A B2B customer purchases goods worth EUR 1,000. Payment remains outstanding for 100 days after the payment deadline. With a base interest rate of 3.37%, this results in a default interest rate of 12.37% (3.37% + 9%).

The formula for the calculation is

The total amount including default interest is therefore € 1,033.89.

If you want to apply default interest, activate the Default interest radio button, enter the current base interest rate and the corresponding surcharge interest rate.

For countries outside Germany, the base interest rate must be set manually.

Note: The use of interest on arrears can be activated and deactivated 👉 at organization level. This gives you the option of suspending interest for individual key customers so as not to jeopardize important business relationships.

If this option is activated, VAT is not shown when an invoice is created abroad. Instead, the VAT liability is transferred to the recipient of the service (e.g. the foreign company).

This function is important for companies that provide services or goods to business customers in other European countries . If the reverse charge procedure is activated, it is noted on the invoice that the VAT liability is borne by the recipient. This is a common process, especially in the EU, which facilitates cross-border trade.

In Leadtime, welcome and closing formulas for invoices, reminders and invoice cancellations can be customized. This system offers a three-level hierarchy to ensure maximum flexibility and customizability:

The welcome and closing formulas defined at workspace level apply by default to all projects and invoices within this workspace. They form the basis and serve as a universal default for all invoices, reminders and cancelations.

If there are specific requirements for a particular organization, the welcome and closing formulas can be adapted at project level. These settings override the Workspace default settings and only apply to invoices, reminders and cancellations created for that organization. This option is particularly useful if a different tone or specific wording is required for individual customers.

Greeting and closing formulas can be customized again at the individual invoice level. These adjustments overwrite both the organization and workspace settings. This is ideal for adding a one-off exception to the text for a single invoice.

This flexible system allows companies to customize their invoice and dunning texts. This allows you to:

The possibility of individualization not only allows you to address customers more personally, but also contributes to professional and tailor-made communication with your business partners.

The following variables can be used in the greeting and closing formulas for invoices, reminders and cancelations. The variables are automatically replaced by the corresponding values.