Assessing Finance Charges in QuickBooks



QuickBooks assesses finance charges on unpaid open invoices without considering any unapplied payments. Accordingly, you’ll want to make sure that you apply any payments and credit memos to open invoices before assessing finance charges.

To assess finance charges, follow these steps:

Go to the Customers menu and click Assess Finance Charges.

•   Select the customers and jobs for which you want to assess finance charges.

  • To select an individual customer or job, click in the Assess column opposite the customer or job name.
  • To select all the customers and jobs listed, click Mark All.
  • To clear everything you’ve selected, click Unmark All.
  • (Optional) Change finance charge amounts by typing over the amounts shown in the Fin. Charge column.
  • To change the interest rate, click Settings and enter the new rate.
  • (Optional) If you plan to print the finance charge invoices to send to customers, select the Mark invoices to be printed checkbox.
  • If you send statements, leave this checkbox cleared. The finance charges will be included the next time you print statements.
  • Click Assess Charges.

Customers and jobs marked with an asterisk (*) have credits in the form of payments or credit memos that you have not yet applied to an invoice. The overdue balance shown in the Assess Finance Charges window does not reflect these credits.

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