I suggest you ...

Automatic Late Fee's and/or Finance Charges

EVERYONE wants / needs this. Why is this not done yet... Also make it so we don't need to interact with it. Its so much easier just being able to tell a customer "Well, the computer did it." It would also help remove favoritism. I have a tendency to overlook some accounts for the people that I like.

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    AnonymousAnonymous shared this idea  ·   ·  Flag idea as inappropriate…  ·  Admin →

    244 comments

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      • accountsaccounts commented  ·   ·  Flag as inappropriate

        We need the option to add an interest rate to overdue invoices of our choosing. I would love to be able to have the automatic creation of a 2% interest on some of our accounts over our Net 30 day terms. Some of our customers have worked out agreements with us to not be charged the 2% interest, so I would like to be able to choose which invoices will or will not be subject to 2% interest on overdue invoices.

      • Eric WagnerEric Wagner commented  ·   ·  Flag as inappropriate

        Hello,

        I've been trying to figure out how to add an automatic late fee to my overdue invoices. After some research, I see other people want the same thing, but QBO does not offer it at this time.

        Can the developers PLEASE come up with a way to add automatic late fees once the terms (such as NET 30) are reached?

        There would also need to be a place at the bottom of the invoice where it says the terms and what the late fees are.

        Thanks!
        Eric

      • Anonymous commented  ·   ·  Flag as inappropriate

        It would REALLY great to have a feature to automatically charge a late fee for unpaid invoices. I know that you can manually do this, but we have 100+ unpaid invoices currently and so adding late fees would be time consuming and inconsistent. There should be a way to add a penalty and have the system keep track of it.

      • Anonymous commented  ·   ·  Flag as inappropriate

        This sounds like something simple, every other company in the world has software to due this. We all see it on our personal monthly bills. QBO users really need this feature.

      • Anonymous commented  ·   ·  Flag as inappropriate

        Ability to mark invoices as overdue and automatically add the set interest rate for overdue items.

      • JustinJustin commented  ·   ·  Flag as inappropriate

        To everyone looking for a solution to this, we just signed up with invoicesherpa. Its an app that works with quickbooks. Can help you tackle receivables, apply late charges and fees automatically, schedule reminder emails, calls, etc. They also accept a variety of payment methods. For the price, its a great service.

      • rishirishi commented  ·   ·  Flag as inappropriate

        What does this mean FINANCE CHARGE? Not sure how engineers are suppose to understand this.. Isn't finance charges and bank fees already handled at the end of reconciliations?

      • BrendaBrenda commented  ·   ·  Flag as inappropriate

        Ability to add interest for late payments is something needed! Please work on this. I would also like this feature to be an option added. We have some clients who are good that we would waive interest as they pay regularly, but we have other clients who are consistently delayed in payments or very delayed in payments that need the interest added. Option should be able to be a selected percentage as all quickbook clients may choose a different rate of interest to charge.

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