Question by  MsSnow (19)

How do I asses finance charges on unpaid invoices?

I have QuickBooks.


Answer by  Jimbob (2275)

You would have to transfer the invoice into a category such as a loan. Which after remaining unpaid is basically what the unpaid invoice is. By changing the category to loan one can apply interest charges to the balance. Unless you have a straight fee you can just add another invoice and label finance charges.


Answer by  sunitadas (121)

The unpaid invoices have to be transferred to a different category such as a loan. The remaining unpaid amount is the amount of loan. Then interest charges can be charged on the loan as per the agreement between the bank and customer. If no such agreement exist, the amount can be directly paid.


Answer by  Lakshmi65 (715)

depending upon the number of days the payment is delayed,for that delay the finance charges are levied on that invoice as per the terms agreed with the bank or customer.


Answer by  japratt (1687)

If you are wanting to access these types of finance charges then you will need to go to the company site first.

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