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Finance Charges

Q: I have two business construction and property management – some of our customers and tenants are paying late fees. How would I apply it in QuickBooks?

A: Remember, QuickBooks calculates the finance charge by days not by months. So make sure you are calculating the charges according to your agreement and contract with your tenants.

Change the settings under Preference and then create your invoice.

Gita Faust

About the Author

Gita Faust has over 30 years of accounting experience in the real estate and property management industry, Gita Faust is more than just a real estate investor; she is also popular for her work as an accountant, consultant, mentor, speaker, QuickBooks Top ProAdvisor, QuickBooks Solution Provider, member of Intuit’s Trainer/Writer Network, and, of course, author. Gita is well-known for her exemplary leadership and advisory skills. In fact, she even helped pioneer the adaptation of QuickBooks to suit the needs of professionals in real estate and property management. To share her knowledge she has written a series of courses titled Simplified Accounting Solution, which provides step-by-step guidance for those working with QuickBooks.

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