Why isn’t there an automated feature for penalties on overdue invoices?

Hello creeksidetimberp,

I hope you are having an awesome weekend so far! This is a great feature that our neighbors in the US has for a default setting. I think it would be a fantastic add on here in Canada as well. We can enter feedback from right inside our QBO company file to request changes such as this to better the product for consumers.

To create your feedback we can follow the steps below:
How do I submit feedback?
https://quickbooks.intuit.com/learn-support/en-ca/feature-preferences/how-do-i-submit-feedback/00/261989

In the meantime, we can manually create the same outcome by creating an account in our Chart Of Accounts for the late penalties. We will then assign this account to a non-inventory item in our product and service list. Once we have linked the account with a non-inventory item, we can manually add a line item in our invoice to charge for the additional late penalties.

I hope this information helps! Let me know if you need any further assistance I'd be happy to help.

Kindest Regards,
Lourdes Fernandez