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Eoy adjustments.

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Jgrohl
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Eoy adjustments.

Hi, 

 

the accountant has written off bad debt from one customer who we know will never pay. In his end of year adjustments he journaled to bad debt, however i dtill have the invoices open. How do i now close off these invoices , there are 4 of them?

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Emily_B
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Re: Eoy adjustments.

Hello @Jgrohl 

 

To account for bad debts in AccountEdge, you'll want to create a Bad Debt expense account. Please see instructions to do this in AccountEdge here, and note that we do recommend consulting an accountant when setting up a new expense account. Then, you will be able to use that Bad Debt expense account to apply a negative credit to the sale(s) associated with the client, and you will then be able to close off those invoices. Please see full instructions for Accounting for Bad Debts with AccountEdge here.

Kind regards,
Emily

MYOB Community Support

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