How do I write off bad debts?
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Revision as of 11:56, 6 June 2011 by Charles Allison (talk | contribs)
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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 Receipts".
- Following the How do I Allocate a Payment to an Invoice? knowledge base article select the invoice you are going to write off.
- Fill in all payment details and make sure that the "Payment Centre :" is set to your "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?
