How to adjust Past Due Invoices to include finance charges or service charges or interest charges using Quickbooks Desktop Premier?

CLM1 · ‎April 08, 2019

Here's the situation. I have everything set up to assess the above charges if I cannot get a customer to pay within their grace period. However, when I assess the above charges, QB generates an FC invoice, which is separate from the original invoice, which now has a 'PAST DUE' stamped on it in RED.

At this point, I think the now past due invoice, will include the charges I just assessed on a select few customers. However, when I go to the Collection Center to send out the now past due invoice that I thought would have the assessed charges I just added, there is an FC Invoice. Why would I want to send a customer 2 invoices; one PAST DUE with only the original amount due, and the other with the assessed charges?

Why can't these assessed charges be added to the invoice that is PAST DUE since this is why I have assessed charges in QB desktop? When I send out the PAST DUE with the FC invoice two things tend to happen: One, the customer just pays the PAST DUE which contains the original amount and ignores the FC invoice, which we've spent time trying to collect. And/or two, I get an angry customer contacting me that they don't understand exactly how much they owe.

I've also tried the STATEMENT methode, which just adds to the confusion with additional paper and/or email requesting payments.

Any help with this would be appreciated.

LauraAB · ‎April 08, 2019

Hi CLM1,

Great question! From what you've described, the feature is working as it should and it'll create a new invoice for those charges. You can read more about the feature by going to the Help menu and choosing QuickBooks Desktop Help. Navigate to the Help tab within the Have a Question? window and use the Search feature to search "finance charges." You'll see a number of related articles.

To have the charge appear directly on your invoice, I recommend creating the assessment fee as a line item instead and adding it to the invoice manually. The calculations will also need to be made manually. Doing it this way, you'll be able to keep it all in one place and hopefully have less hassle and confusion when your customers are paying.

Don't hesitate if you have more questions!

AmeliaF · ‎October 04, 2019

Please add functionality to do this automatically. Manual is inefficient.

mjzimp · ‎May 19, 2021

This is the dumbest method of assessing finance charges to invoices that I have ever heard. Do you know how much confusion it creates to have two invoices - one for charges and one for finance charges. It should just add the finance charge as a line item to the original invoice to show the customer why they are getting a finance charge. To create a separate "FC" invoice gives customers no idea why they are getting finance charges and just makes them upset creating more phone calls. QuickBooks really messed up on this one.

Nick K · ‎May 19, 2021

Hi mjzimp,

Thanks for reaching out and letting us know this is a feature you want included in future updates of QuickBooks Desktop. I can help walk you through how to request that this feature is considered for future updates.

QuickBooks Desktop is always evolving and we greatly appreciate any feedback and suggestions we get. I recommend sending feedback to let our development team know this is a feature you wish to have added. Sending feedback is a quick process you can do directly through your program by going to: Help>Send Feedback Online>Product Suggestions.

Once the feedback is sent our product team will look into ways that they can include this feature in future updates.

If you have any further questions don't hesitate to reach out and we would be happy to help!

mdccb · ‎September 10, 2021

was this problem fix requested?

Alex M · ‎September 10, 2021

Hello mdccb,

It's vital for all businesses to be able to keep track of customer invoices that haven't yet been paid. QuickBooks Desktop is a software able to show you the invoices that haven't been paid so that you know which customers have payments overdue and owe you money. I can provide some information about financial charges.

I can see how being able to add the financial charges to a preexisting invoice could help you keep your sales organized. I recommend you submit feedback by clicking on the Help menu, then Submit feedback online and Product suggestions. I'll also submit feedback on my end as well so that the developers can consider this feedback when creating new features for QuickBooks Desktop.

If you have any other questions, feel free to reach out here.

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How to adjust Past Due Invoices to include finance charges or service charges or interest charges using Quickbooks Desktop Premier?