Charging Late Fees Bookkeeping Question

by Marianne
(Colorado)

Charging Late Fees

Charging Late Fees

I am a graphic artist. I need to start charging a late fee for unpaid invoices over 30days.

I use Quick Books, What do I put in the Annual Interest Rate box, Minimum Finance charge box for the state of Colorado?

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Semi Annual Mortgage Fee

Do I post a semi annual fee associated with a home mortgage to an expense account?

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