Annual Interest Rate. Enter the interest rate percentage to use to calculate finance charges. For example, enter 12.5 if your rate is 12.5%.
Minimum Finance Charge. Enter a minimum finance charge if you want to apply a finance charge regardless of the amount overdue.
Grace Period. Enter a grace period, in days, before finance charges apply. The grace period delays the starting date for assessing finance charges. For example, if the starting date would have been June 1st and the grace period is 3 days, QuickBooks uses June 4th as the starting date.
Finance Charge Title. Change the title of the finance charge.
Calculate Charges from. Select either Due Date or Invoice Date.
Due Date. Use the date an invoice is due as the starting point for assessing finance charges. For example: for a customer who has 30 days to pay an invoice but is five days overdue, QuickBooks assesses finance charges for 5 overdue days, but
not the original 30 days.
Invoice Date. Use the date you write an invoice as the starting point for assessing finance charges. For example: for a customer who has 30 days to pay an invoice but is five days overdue, QuickBooks assesses finance charges for 5 overdue days,
plus the original 30 days.
Finance Charge Account. Choose the account you use to track finance charges. Usually, this is an income account.
Assess finance charges on overdue finance charges. Calculate finance charges on finance charges that are overdue and unpaid.
Mark finance charge invoices “To be printed”. Create an invoice for each customer for whom you assess a finance charge. This preference marks those invoices as “to be printed” so you can print all the invoices at once by choosing File > Print Forms > Invoices. If you send statements, leave this checkbox cleared.