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debiteure
January 22, 2020
Question

Hi, is there a way to create an automatic interest on overdue invoices?Or must I do each manually?

  • January 22, 2020
  • 2 replies
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2 replies

JaneD
JaneD
January 22, 2020

Good day, debiteure.

 

You'll have to manually add the interest on overdue invoices. You can create or set up the interest as a service item in QuickBooks Online (QBO).

 

  1. Go to the Gear icon and choose Products and Services.
  2. Click on New and select Service.
  3. Enter the name of the item and choose an income account.
  4. You can also enter the rate of the item.
  5. Click on Save and close once you're done.

You'll also want to create templates for recurring transactions in QBO.

 

We'll be around if you have further questions. Have a good one.

C
Coronapool
December 7, 2020

They charge $40 dollars a month.  Almost $500 a year for this service and can’t even have a basic service like this which was always included on the desktop version.  Quick books sucks.  

    H
    HeatherMarie1
    May 8, 2023

    I agree! I feel like in the past QBO offered much more than they do now. Can’t even assign deposit numbers! Ridiculous 

      Fiat Lux - ASIA
      Fiat Lux - ASIA
      January 23, 2020

      @debiteure 

      There are some 3rd party AR management app in the market with automatic interest feature.  Consider to integrate it with your QBO.

        H
        HeatherMarie1
        May 8, 2023

        What apps create interest to past due invoices?

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