Automatic Late Fees

Hi JessV!

Looks like I’m answering my question. We have the same name!

The Enterprise version has a feature called Assess Finance Charges. It is used to calculate late fees for unpaid invoices beyond the grace period. Though this feature is not automated like in the online version, you can assess late fees in just a few clicks. I’m happy to show you how to do it.

Enable finance charges:

1. From the Edit window, select Preferences.
2. Click on Finance Charge and click the Company Preferences
3. Enter the details of your finance charge and click OK.

To assess late fees, you can click the Finance Charge icon in the CUSTOMER workflow section of the Home Page. Then, select a customer and click on Assess Charges.

You can also right-click on the customer's name and select Assess Finance Charges.

You will then see an invoice for the Finance Charge on your customer's transaction list.

To learn more about the feature, you can check out the article about Finance Charges. 

Feel free to visit us back in the Community if you have other questions about assessing late fees. Wishing you only good sales and non-delinquent customers.

I am using Quickbooks Desktop.  In the statement module, there should be a separate area for "late fees" that do not have to do with finance charges.  We bill once a year and apply a flat rate late fee if not paid on time.  It would be helpful to have the customers who haven't paid available instead of creating invoices individually.  At the present time, I have to charge 35+ late fees.  And I do not want the late fee to be labeled finance charge.

Thank you.