Is there a way to AUTOMATICALLY charge interest for late payments on an invoice? It seems to be implemented in the US, but not in Canada. Why not?

Hello RNCRC,

QuickBooks Online Canada, currently doesn't automatically apply late fees to your sales forms.  I can understand the time saving benefits of having this feature, and I encourage you to submit a suggestion to our Development Team.  In the interim, you can manually add late fees to your invoices, as you see necessary.  I would be happy to show you how!

To get started, you'll need to create a late fee item, so you can add a detailed description to your invoices. Here's how;

1. Open your Settings ⚙ and select Products and services

2. Hit New, then choose Service

3. Enter a Name, such as Late Fee

(Optional) From the Category ▼ dropdown, select the category that best describes the fee. Find out more about item categories.

4. Complete the rest of the fields, as you feel necessary

5. Select Save and close.

Note: If you don't charge a standard fee, you can always change the fee amount on the invoice.

Follow these steps to add the fee to invoices;

1. Open Sales from the left menu and then Invoices 

2. Select the invoice you want to add a service fee to

3. Edit invoice

4. From the Product/Service ▼ dropdown, select the service fee you created

5. In the Amount field, enter the amount of the service fee 

6. In the Message on invoice section, add a note about the fee

Note; You may prefer to include this in the default email message you send along with invoices.

7. Hit Save and send or Save and close.

Feel free to reach out again with other questions. We're always glad to assist!