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Bantubbs's avatar
Bantubbs
Experienced Cover User
2 years ago
Solved

Debt Collection Fees

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's avatar
    ChrisMYOB
    2 years ago

    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.

     

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  • ChrisMYOB's avatar
    ChrisMYOB
    Former Staff
    2 years ago

    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.

     

    • Bantubbs's avatar
      Bantubbs
      Experienced Cover User
      2 years ago

      I have found an earlier Community Forum post which I followed to finalise the invoice, whereby I did not have to initially write the amount off as a Bad Debt. 

       

      I do appreciate your assistance though - Thank you!