This article covers How do I scenarios and Unexpected results when working with finance charge, billing statement, and statement charge in QuickBooks Desktop. For general information and A/R related workflow, see Accounts Receivable 101.
Scenario: You want to start assessing finance charges beginning on a certain date but you don’t want to charge for the previous time it was outstanding.
Example: You have a customer with open balances that are several months or years past due. You want to "wave" the previous finance charges and start assessing the finance charges on January 1st.
Scenario:QuickBooks Desktop have incorrect amount of finance charges for customers who have overdue balances.
Scenario: You created grace period in Finance Charge settings and asses finance charge for a customer with multiple invoices.
Possible reason: You assess finance charges for customers with previous assessments and their current invoices falls within the grace period that you set.
Solution: You have to manually calculate finance charges. QuickBooks Desktop cannot calculate finance charges accordingly in this scenario.
Possible reason: Data damage
Solution 1: Resort Lists.
Solution 2: Follow standard data damage troubleshooting.