Thank you for posting here in the QuickBooks Community, @T4KB. I'm happy to share more information about finance charges.
The option of excluding the $25 finance charge per quarter to be assessed from accruing is unavailable in QB Desktop. However, we have two workaround options for doing this. You can choose between these steps to learn how:
First Option: Create a job that excludes being assessed on an invoice.
- Go to the Customers, then select Customer Center.
- Select the customer, then choose Add Job from the drop-down.
- In the Job Name field, enter Customer Name - No FC. Select OK.
- Edit the invoice and change the customer to the job you just created.
- Select Save & Close.
- Go to the Customers menu, then select Assess Finance Charges.
- You can now select which invoices you want to apply finance charges to without choosing the new job's invoice.
Second Option: Create a second Accounts Receivable.
- Go to the Company menu, then select Chart of Accounts.
- In the Chart of Accounts window, right-click anywhere, then choose New.
- Select Other Account Types, then select Accounts Receivable from the drop-down.
- Select Continue.
- In the Account Name field, enter Accounts Receivable - No FC.
- Select Save & Close.
- Edit any existing invoices you would like to exclude from finance charges, then select the new A/R account.
- When you create or edit invoices, you can choose which A/R account you like to use.
- When you go to the Customers menu and then select Assess Finance Charge, you'll have the option to choose which A/R you want to use to assess finance charges.
For more information about this process, let me share this article for reference: Assess finance charges.
Additionally, I'm sharing this article if you want to learn about sending your customer's statements: Create and send customer statements in QuickBooks Desktop.
I'll keep in touch if you still have questions about your invoices. Have a great day ahead, and take care.
