The impact of late paying the bill is that the bill payment would likely to increase with the amount of interest.
A bill is defined as an invoice that is received from a supplier that specifies the amount due by the recipient. For trade payables, this is the primary source document.
If the recipient is not paid the amount of the bill or paid the bill after4 the expiration of due date of the bill, then the amount of bill increased from the date of bill up to the payment.
Therefore, the late payment of bill would increase the amount of interest.
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