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Set up for finance charges

Only the QuickBooks Administrator can do this.

  1. Open the finance charge preferences.

    To do this task

    1. Go to the Edit menu and click Preferences.

    2. In the Preferences window, click Finance Charge in the list on the left.

    3. Click the Company Preferences tab.

  2. Enter your annual interest rate, minimum finance charge, and grace period.

  3. Enter the name of the account you use to track income from finance charges. Usually, this is an income account.

  4. (Optional) If you don't want QuickBooks to assess finance charges on overdue finance charges, clear the checkbox for assessing overdue finance charges.

    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.

  5. Indicate the date (due date or invoice/billed date) that you want QuickBooks to calculate finance charges from.

  6. (Optional) To be able to print all your finance charge invoices in a single operation, select the Mark finance charge invoices as To be printed checkbox.

    If you send statements, leave this checkbox cleared. QuickBooks will include the finance charges on the next statement to the customer.

  7. Click OK.

See also

KB ID# H_PMT_FINCHG_SETUP
12/5/2016 6:55:49 PM
QYPPRDQBKSWS07 9138 Pro 2017 e43d46