Does Quickbooks Online Essentials automatically calculate and apply interest charges on customer statements?

Hi there dufferinindieselwo,

It's essential for all businesses to receive payments from their clients for the services they've provided. QuickBooks Online is a great tool that can keep track of unpaid invoices so that you can see how much money is owed to you by your customers. I can provide some information about interest and QuickBooks Online.

There isn't the ability to automatically calculate interest on invoices that are unpaid. In order to increase the amount your customers owe you due to interest, you can add a new invoice to that customer with a line item you created called Interest. Another way to increase the amount owed to you would be to edit an existing invoice to add a line item for interest.

I can see how having interest automatically calculate on unpaid invoices would be a feature that could help you manage your sales more effectively. I recommend you leave your feedback in the system by clicking on the Gear Icon, then Feedback. The comments made in this section are taken into consideration when designing new features for QuickBooks Online. I'll pass your feedback along on my end as well.

If you have any other questions, feel free to reach out here.