Record a finance charge

You can use a finance charge to apply a late fee to a customer's unpaid invoice. This charge appears in the Invoices/Receivables register and can also be included on a printed customer statement.

Note: This feature is available only in the Business & Personal edition of Quicken Classic for Windows.

When to use this

Use a finance charge to apply interest or penalties when a customer has not paid by the due date. This entry increases the customer’s balance and appears alongside their other receivables.

Example: If a customer misses the due date on a $500 invoice, you can apply a $25 finance charge to reflect the late fee.

What this does

Creating a finance charge increases the customer's outstanding balance in your Invoices/Receivables account. It does not link to a specific invoice but is added as a separate receivable.

To apply a finance charge

1. Open the account used to track this customer’s invoices and payments.

   • Navigate to the Business tab and select Invoices and Receivables.

2. Click the Account Actions icon (gear icon), then choose New Finance Charge.

3. In the Finance Charge form:

   • Select the Customer and, if applicable, the Project/Job.

   • Review the list of unpaid invoices to assess aging.

   • Choose a Category for the charge. This is often a business income category such as Finance Charges.

   • (Optional) Enter a Memo describing the charge.

   • Review the Transaction Date. By default, Quicken uses today's date.

   • Enter the Expected Payment Date if known.

   • In the Amount field, enter the value of the finance charge.

4. Click OK to record the charge in the Invoices/Receivables register.