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- Setting Sales and Customers Preferences
- Creating an Invoice
- Previewing Invoices
- Printing a Single Invoice
- Printing a Batch of Invoices
- Emailing an Invoice
- Charging Expenses to a Customer
- Setting Finance Charge Preferences
- Creating a Monthly Statement
- Setting Send Forms Preferences
- Tracking Accounts Receivable
- Receiving Payments for Invoices
- Issuing a Credit or Refund
- Receiving Cash
- Making Bank Deposits
- Receiving Advances, Retainers, and Down Payments
- Issuing Discounts
- Viewing the Open Invoices Report
- Creating a Collection Letter
- Recording Bad Debts
This chapter is from the book
Setting Finance Charge Preferences
Do you charge your customers a fee for late payments? If so, you can create several settings to ensure that the process of assessing finance charges is consistent and automatic. Any settings you establish here can be revised later, but you’ll save yourself time by thinking through these options and configuring the settings before you start dealing with customers who made late payments.
- Select Edit, Preferences.
- Click the Finance Charge icon.
- Click the Company Preferences tab.
- Indicate in the Annual Interest Rate field the amount of interest that your company charges for past-due customer payments.
- Indicate in the Minimum Finance Charge field the amount, if any, that your company assesses on late payments.
- Enter the number of days in the Grace Period (days) field allowed before finance charges are assessed.
- Choose from the Finance Charge Account drop-down list the account you use to track finance charges.
- Check Assess Finance Charges on Overdue Finance Charges if you add previous finance charges to the balance when computing additional finance charges.
- Select an option in the Calculate Charges From section.
- Check Mark Finance Charge Invoices “To Be Printed” if you want to send an invoice to customers when finance charges are assessed. If you check this box, QuickBooks automatically generates invoices and places them in your print queue.
- Click OK.