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Part payment for written off debt

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ElisaC
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ElisaC
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Part payment for written off debt

Good morning

 

I have received a part payment through a debt collection agency for a debt that has been written off.  How would I enter this payment?

 

Thanks Smiley Happy

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MYOB Moderator Neil_M
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Neil_M
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Re: Part payment for written off debt

Hi @ElisaC

 

Welcome to the MYOB Community Forum, I hope you find it a wealth of helpful information

 

To assign a payment to an invoice that has previously been closed off by writing it off using a bad debt credit note, you first need to locate the closed off invoice. Once you have then you can open the invoice and click on the History button.

 

Once inside the history of the transaction then you can click on the arrow for the payment of that invoice and delete that credit note. As the invoice will now not be fully paid off it’ll be visible under the Receive Payments for you to apply the payment to it.

 

As there may be a reduced amount from the debt collection agency for their portion of the received funds, you could then close the invoice again through the same writing off method used to write the invoice off originally



Regards
Neil
MYOB Client Support
ElisaC
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Australia
ElisaC
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Re: Part payment for written off debt

Thanks @Neil_M Smiley Happy 

Ultimate Partner DuncanS
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Re: Part payment for written off debt

@ElisaC @Neil_M

 

Elisa,

 

I would use Receive Money using the same ledger/GST code as the original invoice.

The Card would be the Client Name - Part Debt Recovered

 

Duncan

Duncan Smith
Business Advice + Tax
Helping business owners build a better business since 1998
E expressgst@optusnet.com.au T 02 9904 3672 7 days
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