Is there a way to trick QBO to calculate late fees on customer balances brought over from desktop?

Hello there, usergmpoatreasurer.

You'll have to manually add late fees to the old invoices converted from QuickBooks Desktop (QBDT) to QuickBooks Online (QBO):

1. Go to Sales, then choose Invoices.
2. Locate the invoice you want to add late fees.

3. Then select Late Fees from the table. 

4. Click Save and close.
   
   

Moving forward, you'll need to set up automatic late fees in QBO since settings will not be automatically brought over from QuickBooks Desktop.

Here's how:

1. Go to the Gear icon, then Account and settings.
2. Select Sales.
3. Click late fees.
   
   

Then, you can add late fees to your customer's future invoices. For more information about managing late fees in QBO, check out this article: Set up and apply automatic late fees to invoices.

You'll want to run the Invoice List report to review all the invoices made in your account.

Here's how:

1. Go to Reports.
2. Enter the Invoice List in the search field.
   
3. Customize the filter if necessary.
4. Click Run report.
   

Also, I have articles here about managing reports in QuickBooks Online (QBO) for your reference:

• Customize and modify columns on reports
• Run reports in QuickBooks Online
  
  

The Community is always open if you have other questions while working with late fees in QBO. I'll be around to help. Wishing you a great day ahead.

The good news is that I had already done the step to set up the automatic late fees for future invoices.  I know this is working as we have 60 members that pay monthly (and of course a few that are late).  We use the % method of 1.5% per month (18% annual).

I am having troubles following your steps to add late fees to old invoices from QBDT manually.  I went to Sales, invoices and was able to locate the invoice I wanted to add late fees.  When I click on that invoice record, a screen comes up to the right.  When I select product and services, it comes up with the services that the Member was invoiced as of 6/1/20.  There is not an option to select late fees.

If I could get some additional instructions, that would be great.  My concern is that I am going to have to do this for 15 members with multiple invoices each month.

I still have my question, if QBO could be "tricked" to automatically invoice.  Let me give you an example.  On 6/1/20 we invoiced a member for$1,354 for services.  This is an annual invoice due 30 days.  We converted from QBDT to QBO on 2/1/21 and finance charges of $162.50 had accumulated.  Could I create an invoice dated 2/1/21 for $1,354.00 (entries would be Debit AR and Credit P/L) and that new invoice would start assessing late fees.  I would then go in and write off the 6/1/20 invoice of $1,354 (entries would be Debit P/L, credit AR).  My Accounts Receivable and Profit and Loss statements should reflect the current amount.  

Thoughts

I am sorry that I am slow in responding.  After reviewing the responses, I had consulted an expert and she confirmed that QBO late fee process does not properly account for late fees using the % method.  As we converted Feb 1, I wanted to see how QBO would calculate the late fees at the end of March.  Let's take a monthly payor.  The invoice amount of $112.83 dated 2/1/21 was due in 30 days.  Interest was added at a rate of 1.5% monthly for $1.69.  The interest calculation was due on 3/1/21 and the entry was booked in February and added to the Feb invoice (which had already been sent out to the customer).  At the end of March both the Feb 1 and Mar 1 payment was due. QBO only calculated the interest on the March 1 payment of $1.69 and added it to the March 1 invoice (which also had already been sent out to the customer).  It did not calculate interest on the open Feb invoice.  To me several things are wrong:  1) it is not calculating interest correctly on the outstanding balances and 2) it is adding it to an invoice that has already been generated and sent to the customer.  DT would generate a new invoice at the end of the finance charge period (in this case the 31st/1st of the month).  I have written to QB to make them aware of this situation.  I will be turning off the automatic late fee feature and calculating interest manually.  This problem needs to be addressed in QBO.