Asses Financial Charges in QuickBooks

For Accounts Receivable workflow in QuickBooks, Assessing finance charges is a basic part that needs to be done if you have a late fee or unpaid balances. This article will provide you the steps to assess finance charges in QuickBooks Desktop.

Before you go on to the steps to assess finance charges, you are supposed to configure your Finance Charges in QuickBooks Desktop. To do so, follow the below mentioned steps:

  • Run the QuickBooks Company Fie with administrator rights.
  • Go to Edit > Preferences > Finance Charge
  • Click on Company Preference
  • Provide the required details like Annual Interest Rate, Minimum Finance Charge and Grace Period
  • Click on Finance charge account and from the drop down list, select the account you utilized to track income from the finance charges.
  • (Optional step) If you want QuickBooks to assess the finance charges on overdue finance charges then you need to uncheck the Assess overdue finance charges box.
  • Provide the Due Date or Invoice/billed date to tell QuickBooks when to calculate finance charges.
  • (Optional step) Mark the box stated as Mark Finance Charge Invoice As – To Are Printed in case if you wish to print all your finance charge invoices at once.
  • Click on OK

How To Assess Finance Charge In QuickBooks Desktop

  • Click on the Customer menu
  • Click on Asses Finance Charges and then select the A/R account.
  • Provide the Assessment date in the respective field.
  • Click on Customers & Jobs you want to assess finance charges for.
  • Click on Assess Charges

QuickBooks also provide you the option to prevent finance charges to be assessed on as Invoice. Basically, there are two different methods to exclude invoice from a customer’s balance while assessing finance charges. The two options are as follow:

  • Create a job which is not a part of finance
  • Create a second Accounts Receivable A/R that you can exclude from finance charges.

Call Us For Support

By following the article properly, you will be able to assess financial charges in QuickBooks Desktop. However, if you are not able to do so or you have having some doubts in any of the steps then you need to get in touch with our customer support team. You just need to dial the toll-free QuickBooks Support Phone Number +1800-551-5491 and the highly experienced customer support team of will be connected to you in no time.

How To Assess Finance Charges in QuickBooks Desktop

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