Difference between revisions of "How do I write off bad debts?"
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* On the {{DataPrompt|Date :}} enter the date that you wish the debt to be written off on. | * On the {{DataPrompt|Date :}} enter the date that you wish the debt to be written off on. | ||
* On the {{DataPrompt|Invoice/Credit :}} to {{DataValue|C}} | * On the {{DataPrompt|Invoice/Credit :}} to {{DataValue|C}} | ||
| − | * On the {{Account :}} set the {{DataValue|account}} to the customer who has '''"bad debt"'''. | + | * On the {{DataPrompt|Account :}} set the {{DataValue|account}} to the customer who has '''"bad debt"'''. |
* On the {{DataPrompt | * On the {{DataPrompt | ||
Revision as of 16:33, 10 June 2011
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This article or section is under review. Be aware: Content may change as the document is reviewed. |
Summary
This article explains the process to follow when you have classed an invoice as being bad debt and wish to write it off.
More Information
- Go to " Sales Ledger Invoice/Credit Notes".
- On the "Date :" enter the date that you wish the debt to be written off on.
- On the "Invoice/Credit :" to 'C'
- On the "Account :" set the 'account' to the customer who has "bad debt".
- On the {{DataPrompt
"Bad Debt" centre.
- If you do not have a "Bad Debt" centre you will need to create one making sure that it is created as a 'Profit & Loss - Overhead'. (see article - How do I Create a Nominal Code?).
 | At the end of the V.A.T. quarter you will need to do a V.A.T. Journal on the amount within the "Bad Debt" Centre. |
See Also
- How do I Allocate a Payment to an Invoice?
- How do I call up the CRM?
- How do I print an Aged Debtor or Creditor List?
- How to process a month end
- How do I Create a Nominal Code?
- How do I Post a Journal with VAT Involved?
