To add interest to an outstanding invoice you are charging to a customer:

1. Click the plus sign (+) in the orange banner at the top right of your screen and select Receivable charge.

2. Click Choose to select a Contact. Select the contact from the drop-down list.

3. Click the calendar icon and select the Date you are adding the interest towards.

4. Optional: Add a Reference – This could be a cheque number, invoice number, or any other way you want to identify the transaction.

5. Click the drop-down menu under Type and select Income (IN).

6. Select the Account that represents interest charges. You may need to add this account by clicking Add new account.

7. Optional: Enter a Description – This will help you find the transaction later and will also show up in statements and reports.

8. Enter the Total.

9. Review the information.

Click Save.

To add interest to an outstanding invoice you owe to a supplier:

1. Click the plus sign (+) in the orange banner at the top right of your screen and select Payable charge.

2. Click Choose to select a Contact. Select the contact from the drop-down list.

3. Click the calendar icon and select the Date you are adding interest on the outstanding invoice.  

4. Optional: Add a Reference – This could be a cheque number, invoice number, or any other way you want to identify the transaction.

5. Click the drop-down menu under Type and select Expense (EX).

6. Select the Account that represents interest charges. You may need to add this account by clicking Add new account.

7. Optional: Enter a Description – This will help you find the transaction later.

8. Enter the Total.

9. Review the information.

10. Click Save.

Last updated on October 30, 2019 by FCC AgExpert