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Jan 22, 2020 11:03 AM UTC
Question

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

Original commenter did not share additional details

24 replies

JaneD
Jan 22, 2020 11:54 AM UTC

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.

Dec 7, 2020 1:25 PM UTC

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.  

May 8, 2023 10:56 PM UTC

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
Jan 23, 2020 9:22 AM UTC

@debiteure 

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

May 8, 2023 10:51 PM UTC

What apps create interest to past due invoices?