Learn how to setup Finance Charges in QuickBooks

How to setup charges when an invoice is due for payment

The following steps will teach you how to setup charges for due invoices.

1) The ‘INVOICE’ window.

When recording an invoice for a customer, you set the charges from ‘Terms’. The image below explains it. 

To setup the charges, click the drop down arrow in ‘Terms’, a drop down list appears. Select from the drop down list the one suitable to your business. Here, Net 15 (15 days) is chosen.

2) After the invoice has been recorded in QuickBooks, follow the steps below to complete the charges.

Click ‘Customer’ at the menu bar and select ‘Access Finance Charges’ from the drop down list 

3) The ‘Access Finance Charges’ window below appears. 

A: Set the date or leave default

B: Tick the invoice due you want to charge

C: The list of invoice due for payment

D: Click ‘Settings’ at the bottom of the window in order to set the rate and the minimum amount to be charged 

Click ‘OK’ when done.

E: Click ‘Access Charges’ at the bottom of the window in order to complete the charges.