• tom
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  • From: USA, FL, Tampa
  • Registered: 03/24/2009
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Topic: Bad Debts

What is the right way in FA to write off a debt as a loss?

I have some invoices that were either never paid, or I never received full payment on.

I guess I will end up with the invoice fully paid but with money in Bad Debts (5620) and then I assume when I close the year
that money will show up as a Loss.

Tom

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  • joe
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  • Registered: 03/15/2007
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Re: Bad Debts

The easiest and most safe way if to make a Credit Note and instead of returning the items to stock, select Write Off items and select the Bad Debt account. This should do the job.

I guess you can make a search of 'Write Off'. There has been a similar topic made by you, Tom smile

/Joe

  • tom
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  • From: USA, FL, Tampa
  • Registered: 03/24/2009
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Re: Bad Debts

I will go look, AGAIN

Sorry!

smile

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  • tom
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  • From: USA, FL, Tampa
  • Registered: 03/24/2009
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Re: Bad Debts

I think you mean this post: https://frontaccounting.com/punbb/viewtopic.php?id=2451

I did not see any replies to it...

Is that the right way?

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  • joe
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Re: Bad Debts

No, there were no particular answers to this topic, but there were other answers to the topic. However you were on the right way of doing it.
Simply follow my suggestion in the first answer here.

/Joe