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

    296 comments

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      • Christina Wheeler commented  ·   ·  Flag as inappropriate

        I'm in dire need of this feature which makes me miss the desktop version. It is a real pain having to chase invoices and manually add late fees!

      • Bernadette Clayton commented  ·   ·  Flag as inappropriate

        Finance Charges needs to be an option on QBO. It is available on the Desktop and is very easy to use. To have to sit and manually calculate is not a good use of my time. I find it amazing that it is not available on the QBO version.

      • Yvérick Assels commented  ·   ·  Flag as inappropriate

        It's gonna be important to have to opportunity to select that the late fee is applicable on the total Invoice (like VISA does and credit card does) or on the balance of each customer. Some company could charge a 2% each month on every customer balance per exemple.

      • Ralph Howarth commented  ·   ·  Flag as inappropriate

        Update: There was a glitch with the Late Fee beta test and beta testing is postponed until the issue is fixed. I hope to be able to report the different modes of late fee processing I may discover. How different industries use late fees varies.

      • Ralph Howarth commented  ·   ·  Flag as inappropriate

        This is in beta since April 26th to a select group people to test it. Unfortunately I cannot say what is in it since I was hospitalized at the time of the invite.

      • Sheryl commented  ·   ·  Flag as inappropriate

        PLEASE update QB to have Automatic Late Fees/ Finance Charges!!! This is such a basic function - - and apparently from the number of votes/comments and for the number of YEARS this has been requested - - is something that QB clients want !

      • Jay commented  ·   ·  Flag as inappropriate

        I miss the ability that I had in quickbooks desktop to assess interest charges on accounts that were in arrears. It calculated the interest on each overdue invoice according the interest rate set by our board of directors. I would like to see this feature added into the online version so I can simply push a button that says "assess finance charges" and it calculates the interest and generates an invoice with the invoice listed and the amount of interest assessed on each invoice. PLEASE. H

      • Carl@DVRA commented  ·   ·  Flag as inappropriate

        To the poster of "This is not a lack of QBO features... this is a lack of professionalism ...".

        IMHO, these comments are out of line and inflammatory. How an individual QBO client uses the product is up to that individual. Charging or deferring to charge is a business owner's privilege and right. And, this, in no way, determines the need for the feature and the sad omission of it on the part of Intuit. That is where any charge of unprofessionalism should be directed - at Intuit.

      • Treana Wunsch commented  ·   ·  Flag as inappropriate

        I am shocked to find out this is not a function. QBO, please add this as soon as possible. This is needed by everyone.

      • Shreekant Apte commented  ·   ·  Flag as inappropriate

        Can QBO provide a Tool or Configuration where Interest can be Auto Calculated & Invoiced to Customers who have made payments after the Due Date

      • Christi Hulet commented  ·   ·  Flag as inappropriate

        Our company would greatly benefit from an option to automatically apply a late fee for accounts overdue by 30 days or more.

      • SMD commented  ·   ·  Flag as inappropriate

        I'd be willing to bet that if QBO could charge us a fee for this functionality, it would have been done 6 years ago when requested. How about we charge QBO an "Inconvenience Fee" for every day, month, year and transaction that this basic functionality doesn't get implemented for...? How does that sound to QBO...?

      • Sharon commented  ·   ·  Flag as inappropriate

        For the original poster of this suggestion... "It would also help remove favoritism. I have a tendency to overlook some accounts for the people that I like."

        This is not a lack of QBO features... this is a lack of professionalism on the part of the
        business owner/operator. If you offer a 1 time or multiple time forgiveness of late fees, fine... but make that a rule for ALL your customers... not just the ones you "like" . Thats a user shortcoming, not a program one.

      • brad commented  ·   ·  Flag as inappropriate

        Automatic Interest charges on late invoices. Please add a feature that will automatically add interest charges to each invoice.

      • Anonymous commented  ·   ·  Flag as inappropriate

        Please Help -------------

        Have the option of percentage or fixed amount.
        Make sure it generates or shows on recurring invoices.
        Our policy is payment must be post marked by due date, so if payment is in the mail and system creates a late fee, it would be great if when payment is received have an option ( check box ?) to reverse/remove late fee.

      • Anonymous commented  ·   ·  Flag as inappropriate

        "Our team is reviewing the requirements necessary for implementing the ability to automatically charge late fees for overdue invoices. Stay tuned!"

        The requirements necessary? How about this ... fire every single fucking person that you have working in your design and programming department and hire all new people that know how to do these VERY BASIC ACCOUNTING THINGS.

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