Hi All, I have an issues in my accounts and trying to write off a bad debt. The outstanding balance on the invoice $35.67 from 2017. If I make credit as 35.67 I get a balance of -$0.0036. Any help very much appriciated
Hi AngieYoung,
Thanks for your post and the screenshot you've shared. When it's clear that a debt won't be paid, it's time to write it off. You should have a 'Bad Debt' expense account in your company file where you can allocate these amounts. If you use a provision to account for bad debts, you can use AccountRight's 'Provision for Bad Debts' asset account. If it is giving you a negative balance due, I would suggest checking the details and instructions in this article about writing off bad debts.
Feel free to start a new post anytime you require further assistance.
If my response has answered your inquiry, please click "Accept as Solution" to help other users find this.
Kind regards,
Shella
Thanks Shella for your reply but my issue is not with bad debt issues but with the balance of 0.0036 which I can not clear down
Hi AngieYoung,
I appreciate your prompt response. It's advisable to review the invoice transaction to confirm if a partial payment has been made. For transactions that are already recorded, reviewing them will display the impact of the transaction when it was recorded. You can use the Transaction Journal, accessible from the Command Center, to examine the details of recorded transactions. For more information, refer to this shared article about reviewing transactions.
Feel free to post again anytime you require further assistance.
If my response has answered your inquiry, please click "Accept as Solution" to help other users find this information.
Kind regards,
Shella
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