Debt Collection Fees

Bantubbs

Good Afternoon,

 

We recently recovered a bad debt through a debt collection agency.

 

How do I enter this in MYOB AccountRight (we received $528.63 with commission $159.91). Clarity would be appreciated!!

How do I finalise the invoice to a nil balance please?

 

Thanks in advance.

ChrisMYOB

Hello @Bantubbs 

 

Thank you for your post. 

 

Have you already gone through the process in this linked Help Article for accounting for bad debts? 

 

If you have you would have already written off the invoice this was attached to. You would be able to enter this transaction as a receive money.