Jumat, 16 Juli 2010

Bad debt: How to write one off in QuickBooks

This is one of the questions I see often on the QuickBooks Live Community forum:
(Please note, you can only write off a bad debt if you do your books on an accrual basis, if you use cash basis, you cannot use this method)

How do I write off an invoice that I will never collect? 
  1. Go to customer>receive payment.
  2. Click on the invoice you want to write off. Do not enter an amount at the top.
  3. Select the discount button on the bottom right and use the bad debt expense as the discount acct.
  4. Enter the amt you are writing off, save and close. 
























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Lynda
Check out my website www.artesanibookkeeping.com

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