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May 30, 2023
Question

Is there a way to add weekly late fees to invoices in QBO? I'd also like to add credits to customer accts (e.g. 30 mins free for completing a survey)?

  • May 30, 2023
  • 1 reply
  • 0 views
Hello, I'd like to add weekly late fees to my invoices, I've looked at the instructions online and it says this setting is under Accounts & Settings > Sales but I don't have that option.

I would also like to be able to add credits to my customers' accounts where needed.

Thanks!

1 reply

LieraMarie_A
May 30, 2023

Hi there, @nadia-stardustsu.

 

Yes, there's an option to add late fees to invoices and credits to customers' accounts. However, the Late Fees feature is unavailable in your region. Nevertheless, you still have the option to manually add them. I would be happy to guide you through the process.

 

First, let's create a late fee income account. 

 

  1. Go to the Gear icon.
  2. Select Chart of Accounts.
  3. Click on the New button in the top right corner and choose Income.
  4. Select Other Income as the account type.
  5. Choose Other Miscellaneous Income as the detail type.
  6. Give the account a name, such as "Late Fee Income."
  7. Click on Save.

 

Then, add a new service item and associate it with the late fee income account.

 

  1. Go to the Gear icon and select Products and Services.
  2. Click New and choose Service.
  3. Give it a name, such as "Late Fee."
  4. Under Income account, select Late Fee Income.
  5. Select Save and close.

 

After that, you can add the late fee as a separate line item when creating an invoice. 

 

  1. Click on the +New icon in the top right corner. 
  2. Select Invoice under Customers
  3. Enter the customer information and the products or services. 
  4. Then, add the Late Fee item and the amount.
  5. Click on Save and Close.

 

In addition, we have the option to apply credits to customers' accounts. Depending on the circumstances, we can utilize the credit by applying it to an invoice, issuing a refund to the customer, or recording an overpayment as a tip within QuickBooks.

 

Furthermore, QBO provides the Adjustment Notes or Delayed Credits feature that allow you to record and track credits or adjustments to customer accounts.

 

Be sure to get back to me if you have further questions about handling customer credits. I'm always here available to help.