Assessing finance charges


show more Assessing finance charges provides you with in-depth training on Business. Taught by Bonnie Biafore as part of the QuickBooks Pro 2010 Essential Training show less
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Assessing finance charges

Finance charges are additional charges you add to what your customers owe when they don't pay on time. They are a small incentives to keep your customers from falling behind on payments. You have to tell QuickBooks about your finance charges, like the interest rate you charge and when you want finance charges to kick in. But you can also tell QuickBooks to skip finance charges on a customer's overdue balance, if you decide to give them a little more time. Before you can add finance charges to what your customers owe, you have to set up QuickBooks finance charge preferences.

On the Edit menu choose Preferences. Then in the Preferences window, click Finance Charge and then click the Company Preferences tab. You have to have administrator privileges to set up finance charge preferences. The preferences apply to everyone who works in the company file. In the Annual Interest Rate box, type the interest rate for the entire year. Many companies make the rate quite high, 15%, 18% or more.

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Assessing finance charges
Video duration: 4m 9s 3h 45m Beginner

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Assessing finance charges provides you with in-depth training on Business. Taught by Bonnie Biafore as part of the QuickBooks Pro 2010 Essential Training

Subject:
Business
Software:
QuickBooks
Author:
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