How to record late fees in quickbooks?

How To Record Late Fees In Quickbooks?

Today we will tell you how to record late fees in quickbooks, we will know about it in detail and will tell you How to record late fees in quickbooks?

What Is Quickbooks

Quickbooks is a software that has made it easy for small business to big business who are small traders or big traders, they used to have a lot of problem to manage their account but quickbooks software has made it very easy, this software is very easy. It is simple and everyone will run this software, with many features in this software, today we will talk about one such feature that How to record late fees in quickbooks?

How to record late fees in quickbooks

How to record late fees in quickbooks? It is very easy and you will complete the process by following the instructions given by us

Many companies use cash to grow business and make business related purchases without using credit from banks but companies have to pay these credits also when a company defaults on paying these credits. Those companies also have to pay late fees, so it is important that you record this late fee in Quickbooks.

How to Pay Late Fees in QuickBooks/How to record late fees in quickbooks?

Step1. First you start Quickbooks and then in you menu select the option of Banking

Step2. Then you have to open the register of your company, for which you have to click on the option of "Use Register"

Step3. Then you have to click on the option of the bank account from which you have paid the late fee

Step4. Then now you have to click on the OK button

Step5. Then you have to enter the date of payment in the Date option

Step6. and enter the name of your credit lender in the option "Payee"

Step7. Enter the amount of Late Fee on the option of Amount Field

Step8. Then you have to enter Late Fee" in the memo field option. Click on "Record" to save the transaction.