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Kevin C
Level 1

I want the facility to include the Late Commercial Payments Act (with interest and compensation automatically calculated) on statements and invoices. Can this be done?

 
1 REPLY 1
JaneD
Moderator

I want the facility to include the Late Commercial Payments Act (with interest and compensation automatically calculated) on statements and invoices. Can this be done?

Good day, Kevin C.

 

Thanks for your thoughts. The option to include the Late Commercial Payments Act on invoices and automatically calculate the interest and compensation is currently unavailable in QuickBooks Online (QBO).

 

As a workaround, you can create an invoice for an additional charge or add it to the existing transaction. 

 

Here's how to create an invoice for an additional charge:

  1. Go to the Plus (+) icon.
  2. Under Customers, choose Invoice.
  3. Fill out the invoice with the necessary information.
  4. From the Product/Service drop down, choose the finance/service charge or late fee item. If you don't have an item for additional charges, select Add new from the Product/Service item drop down. Choose the appropriate type, then fill out the information form.
  5. Enter the amount of the charge.
  6. Click on Save and close.

To add an additional charge on an existing invoice:

  1. Open the invoice.
  2. In the next unused line on the Product/Service section, choose the finance/service charge or late fee item.
  3. Enter the amount of the charge.
  4. Select Save and close.

I'll send your suggestion directly to our product developers. Your idea would be a big help in getting this implemented.

 

For now, I encourage staying current on all the QuickBooks news and announcements by visiting our website: The QuickBooks Blog UK.

 

I'll also update you once this feature becomes available. 

 

Please let me know if you have any follow-up questions. I'm always here to help. Wishing you a good one.

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