Drake Accounting - Interest on Late Receivables

Drake Accounting does not calculate interest on late receivables, however you can set up charges and penalties by going to Receivables > Options > Charges Setup tab.

1. Click the sunburst icon to add a charge or penalty.

2. Create a Code.

3. Using the dropdown under Type, select Service or Penalty.

4. Under Amount, type in the amount you want to charge.

5. Using the dropdown list under Based On, select Dollars/Cents or Percents.

The invoice will now charge the penalty accordingly. ​