Forum Discussion

UnhappyUser7892's avatar
2 years ago

Write off Bad Debts (original invoices in foreign currencies)

I need to write off some historical invoices recorded in one of my client's MYOB AccountRight online file, which were originally issued in foreign currency (USD) & converted to Aust dollars (AUD) at ...
  • SamaraM's avatar
    2 years ago

    Hi UnhappyUser7892 


    Writing off bad debts are usually done by reversing of the original sale, and allocating the transaction to a bad debts expense account. As there is the addition of being a foreign currency transaction, you will need to deal with the difference due to the exchange rate, which you would usually put against a gains/loss account.


    We recommend checking with a financial advisor on how best to record this transaction in your specific situation, but when you are ready to record it, these Help Articles have detailed information and instructions:


    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.