QuickBooks for Mac 2014 User’s Guide 256
1 Choose QuickBooks > Preferences.
2 On the Preferences pane, select Finance Charges.
3 Set the preferences described below.
4 Close the Preferences window.
• Annual Interest Rate. Enter the interest rate percentage to use to calculate finance charges. For example, enter
12.5 if your rate is 12.5%.
• Minimum Finance Charge. Enter a minimum finance charge if you want to apply a finance charge regardless
of the amount overdue.
• Grace Period. Enter a grace period, in days, before finance charges apply. The grace period delays the starting
date for assessing finance charges. For example, if the starting date would have been June 1st and the grace
period is 3 days, QuickBooks uses June 4th as the starting date.
• Finance Charge Title. Change the title of the finance charge.
• Calculate Charges from. Select either Due Date or Invoice Date.
o Due Date. Use the date an invoice is due as the starting point for assessing finance charges. For example:
for a customer who has 30 days to pay an invoice but is five days overdue, QuickBooks assesses finance
charges for 5 overdue days, but not the original 30 days.
o Invoice Date. Use the date you write an invoice as the starting point for assessing finance charges. For
example: for a customer who has 30 days to pay an invoice but is five days overdue, QuickBooks assesses
finance charges for 5 overdue days, plus the original 30 days.
• Finance Charge Account. Choose the account you use to track finance charges. Usually, this is an income
account.
o Assess finance charges on overdue finance charges. Calculate finance charges on finance charges that
are overdue and unpaid.
o Mark finance charge invoices “To be printed”. Create an invoice for each customer for whom you assess
a finance charge. This preference marks those invoices as “to be printed” so you can print all the invoices at
once by choosing File > Print Forms > Invoices. If you send statements, leave this checkbox cleared.
Inventory preferences
Inventory preferences turn on/off inventory and purchase order features in QuickBooks.
1 Choose QuickBooks > Preferences.
2 On the Preferences pane, select Inventory.
3 Set the preferences described below.
4 Close the Preferences pane.
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