This is your lucky day! I'm here to help you enter a charge on past due invoices.
You have two options to charge interest to your customers:
First, if you haven't created an interest item yet, let's go ahead and create it. Here's how:
Now, here's how you can add the item on the new invoice:
If you want to include the interest on the existing invoice, here's how:
That should do it, biserkaclark. If you have other concerns, don't hesitate to post in the Community.
The problem with this is i have over 300 overdue invoices. Why do i have to spend an entire week going through each invoice and adding interest to it. Isnt there an aging section where interest can be added automatically because it is 30 days past due...
The answer Kristine Mae gave above is the best way to record any extra charges for a past-due invoice. At this time, there's no automated process for adding interest to your past-due invoices. I'll pass along your suggestions to my team for review. We're always looking for ways to improve our products.
Let me know if you have any other questions.
Have a great day!
I agree that it would be VERY helpful to have an automated feature to add interest onto past-due invoices versus having to do it manually because we too are managing hundreds of invoices on a monthly basis and it is very time-consuming to have to add interest to each invoice individually. Please let us know if this feature ever gets added! :-)
Please do add an automated process! For alcohol in the State of California, we are required to charge 1% after 43 days and then additional 1% for each subsequent 30 days past due. This is incredibly difficult to maintain manually.