Join Jess Stratton for an in-depth discussion in this video Assessing finance charges, part of QuickBooks Pro 2015 Essential Training.
- When you're customers don't pay their bills on time…you can assess finance charges,…which is a percentage of their outstanding balance.…Before you can assess finance charges you need to…set them up in Quickbooks first.…Select Edit from the top menu and choose Preferences.…Click on the Finance Charge section…and then click Company Preferences.…The first thing you need to decide…is what the annual interest rate's going to be,…that is the percentage of their outstanding balance.…You also need to decide ahead of time…if there's going to be a minimum figure,…that is the minimum amount before Quickbooks…will start assessing charges.…
You can also choose whether there's a grace period.…Then you need to tell Quickbooks where to track this income.…I'm going to create a new account.…I'll keep the Account Type as Other Income,…and I'll call this one Finance Charges.…Click Save & Close.…Now we have an account to track our finance charge income.…I can decide whether or not I want to assess…finance charges from customers…
Author
Jess Stratton
Released
11/10/2014- Setting up a new company file
- Working with the chart of accounts
- Adding bank accounts and credit cards
- Adding service or inventory items
- Setting up sales tax
- Adding customer, vendor, and employee profiles
- Billing customers
- Receiving payments
- Recording deposits
- Handling refunds and credits
- Paying employees
- Sharing QuickBooks with others
- Running reports
Skill Level Beginner
Duration
Views
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Introduction
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Welcome1m 5s
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1. Navigating QuickBooks
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A tour of the interface3m 52s
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2. Working with Company Files
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3. Setting Up Shop
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Setting up sales tax5m 51s
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Adding vehicles1m 59s
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4. Adding Customers
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Working with leads2m 14s
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5. Working with Vendors
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Creating and editing vendors4m 12s
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6. Adding Employees
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7. Day-to-Day Operations
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Creating estimates7m 47s
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Entering vendor bills1m 53s
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Invoicing customers5m 4s
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Progress invoicing customers3m 14s
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Receiving payments4m 2s
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Entering credit card charges3m 21s
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Recording deposits4m 2s
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Paying vendor bills1m 59s
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Working with jobs2m 39s
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8. Handling Special Cases
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Taking care of refunds2m 37s
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Handling customer credits2m 37s
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Fixing mismatched data6m 37s
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Discounts2m 47s
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Entering statement charges2m 26s
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Assessing finance charges2m 42s
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Memorizing transactions3m 50s
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Reconciling bank accounts3m 51s
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9. Payroll
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Turning on payroll2m 20s
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Setting up payroll items3m 46s
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Paying employees3m 38s
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10. Online Banking
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11. Sharing QuickBooks with Others
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Enabling multiuser mode3m 30s
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12. Finding Information Quickly
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Searching for data3m 9s
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Filtering lists2m 13s
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Classes2m 19s
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13. Reports
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Introduction to reports3m 34s
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Filtering a report2m 25s
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14. End-of-Year Preparations
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Setting up 1099 forms5m 15s
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Closing the books2m 14s
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15. Customizing QuickBooks
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Conclusion
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Next steps46s
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Video: Assessing finance charges