Hi All,
I have in my books very old "return and credits" ranging from 2017. Can you please advise how do I quickly and accurately write them off in MYOB accounts right. If I do a journal to Accounts Receivable, then there will be out of balance in aged debtors report, so I am not sure how to clear these credit balances. Your advice here will be much appreciated.
Thank you in advance.
Hi Gayathris​
You need to do invoices to match the credit balances, then match the credit off these invoices. The invoices would be dated the current month/period, so it is cleared i the current financial year. Code the invoice to whatever the credit related to.
Great, thanks for your super quick response. Would it be correct if I create one invoice and match all these credits to expedite the process? Thanks :)
one invoice per client - as it needs to come off their individual balance.
