This is a situation where you decide to change your business policy on invoice sent to customers informing them that you now charge a certain percentage on invoice that are overdue for payment.
will charge your customers with overdue invoice depending on your
preference-from due date or invoice date.
finance charge for your business, click edit from the QuickBooks menu, select
preference and choose finance charge.
Click Ok to
save these changes.Whenever
QuickBooks recognized any invoice that is overdue for payment, it will start
calculating finance charge on your receivables.
Use this tips to learn how to use finance charge in QuickBooks