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This article is for Drake Accounting 2019. 

Use the Charges Setup tab (Receivables > Options) to establish penalties and service charges to apply to receivables invoices. Once set up and you've created an invoice, you can apply the charges under Receivables > Payments. For more information, see "Service Charges and Penalties". 

Penalties are fees for not paying on a balance due in a timely manner for a service or product, while service charges are additional charges related to the purchase of a product or service. 

To establish service charges and penalties to apply to receivables invoices:

  1. Go to Receivables > Options > Charges Setup tab
  2. Click the  button to create a new charge or penalty. 
  3. Enter a description of the penalty or charge in the Code field. 
  4. From the Type drop down, select Service or Penalty
  5. In the Based On field, select to base the charge or penalty off Dollars/Cents or Percents
  6. Enter the amount in the Amount field.
    • If basing the charge on a percent, be sure to enter this amount as a percent in decimal form (e.g., enter 5% as .05)
  7. To delete a service charge or penalty, click on it and press 
  8. Click Save when finished. 

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