How do I get late fees on statements?

It’s great to see you in the Community, sheila22.

If you mean adding late fees to customer statements, you’ll have to create an invoice for these to show on the transaction. This is because the data is pulled from the sales entry. 

QBO can now automatically apply late charges on the invoice. All you have to do is to activate the feature.

Here’s how:

1. Go to the Gear icon at the top and pick Account and Settings under Your Company.
2. Tap the Sales menu on the left panel and mark the Pencil icon for Late fees.
3. Choose the type that applies to your business: Percent, Flat Fee, and Flat fee and percent.
4. Follow the on-screen instructions to complete the process.
5. Click Save and Done.

After turning on this functionality, fees will be calculated on invoices that become overdue.  Please know the online program does not retroactively apply the charge.

Alternatively, manually add late fees as another line item on the transaction. Check out this article for the step by step process: Add service fees manually to invoices.

For answers to frequently asked questions and tasks you can do using the feature, see the following guide: Set up and apply automatic late fees to invoices.

Don’t hesitate to post a comment below if you have other concerns. I’m always ready to answer them for you. Enjoy the rest of the day.

Greetings, @sheila22.

Have you tried manually adding the late fees to your invoices? This process can help the charges to show on the statements.

Reach out to me again if you need some help with QuickBooks. I'll be right here to make sure you're taken care of.

Late payment fee option is not available in our Account and Settings. How can I activate it?

I’m here to provide information about the Late fees feature and ensure you can turn it on, Preimo.

The Late fees feature in QuickBooks Online (QBO) is only available in Essentials, Plus, and Advanced versions. If you’re using one of them, you can perform some troubleshooting steps so you can activate the option.

First, open your QBO account in a private browser or incognito window for testing. Refer to the shortcut keys below for quick navigation.

• Google Chrome: Ctrl + Shift + N
• Safari 11 or newer: ⌘ + Shift + N
• Mozilla Firefox: Ctrl + Shift + P
• Microsoft Edge: Ctrl + Shift + P

Once logged in, check the option if it's available. If yes, get back to your main browser and clear its cache to start fresh. You can also use other supported browsers as an alternative.

Otherwise, you’ll want to upgrade from Simple Start to obtain the feature. You can use this information to set up and apply automatic late fees to invoices.

If you have other questions or concerns about late fees, just let us know. We’ll be here to help. Have a good one!

If I want to charge 5.25% annual interest (WSJ prime + 2%),  yet choose "frequency - monthly" ... QB will not let me type in .4375 (5.25 / 12 = .4375).  Will QB divide the 5.25% by 12 months?  Thank you!

I'm here to ensure you're able to enter the correct late fees, althawai.

QuickBooks is unable to divide the late fee by 12 months. I'd suggest doing a manual calculation and enter it as flat-rate. I'll show you how.

1. Go to the Gear icon and then select Account and Settings.
2. Choose the Sales tab.
3. Click the pencil icon beside Late fees.
4. On the Type section, select Flat fee.
5. Type in the calculated amount.
6. Select the Frequency and Grace period.
7. Click Save then Done.
   

For more details about managing late fees, please see this article: Set up and Apply Automatic Late Fees to Invoices.

Additionally, I've also added this article that'll help[ you personalize your sales forms in QuickBooks Online: Customize Invoices, Estimates, and Sales Receipts.

Please come back and keep us posted on your progress in adding the fees in QuickBooks, althawai. I'm determined to get this resolved.