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Level 1

Finance Charges: Exclude FC on some invoice items

With QB Enterprise:


We charge an annual payment. After 30 dates, we post a late fee. 

Starting 30 days after that, we begin to assess finance charges.

Unfortunately, QB is calculating the FC on the annual payment AND the late fee. We cannot charge FC on the late fee. 

Is there any way to earmark the late fee so QB will ignore it when calculating FCharges? (Along the lines of the check box to ignore FC on overdue FC.)

Right now, we're having to manually calculate the FC for each account and enter that amount on the Assess Finance Charges screen (after that, posting and sending the FC invoices is fine).


Any help appreciated.



1 Comment 1

Finance Charges: Exclude FC on some invoice items

Good morning, @DEHolz,


Thanks for the question!  When you say the Finance Charge is being calculated on both the payment and the late fee, is this a percentage?  If so, you are correct that the percentage would apply to whatever line items are on the invoice.  There's not a way, unfortunately, to exclude one of the items on the invoice.  For your situation, you would have to calculate the amount as you've been doing.




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