Process a payment received for a written off bad debt

Question

Hi,&nbsp;We have just received payment for a bad debt we wrote off as we didn't think we would receive payment for the invoice. The bad debt was written off a few months ago, so it is now from a closed period.&nbsp;What is the best way to record this payment and reflect that the amount is no longer a bad debt? We don't have reverse transactions turned on.&nbsp;

genreve_s · Answer

Hi DFrost1
&nbsp;
I understand we're making sure those bad debts get sorted in your ledger. For help recording them, take a look at this article 'Writing Off Bad Debts'—it breaks down the steps nicely.
&nbsp;
If you've got any other questions, just give us a shout!
&nbsp;
Thanks,Genreve

duncans · Answer

@ DFrost1&nbsp;I would raise a Tax Invoice in the current Period (being in the same FY as the write off) and apply the Payment.&nbsp;Duncan

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Process a payment received for a written off bad debt

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