Important: Laws vary about whether you can charge interest on overdue
interest payments. Confirm with the appropriate jurisdiction that you are in
compliance with that jurisdiction's lending laws.
To do this task
Open the finance charge preferences.
Go to the Edit menu and click Preferences.
In the Preferences window, click Finance Charge in the list on the left.
Click the Company Preferences tab.
Only the QuickBooks
Administrator can change company preferences.
Select the Assess finance charges on overdue finance charges checkbox.