Difference between revisions of "How do I write off bad debts?"
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== Summary == | == Summary == | ||
This article explains the process to follow when you have classed an invoice as being bad debt and wish to write it off. | This article explains the process to follow when you have classed an invoice as being bad debt and wish to write it off. | ||
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| + | {{Warning|title=Rememeber|text=To check the V.A.T. rate of the invoice '''Prior''' to posting. Make sure the ''Credit'' is posted the same.}} | ||
== More Information == | == More Information == | ||
* Go to {{Menu|{{SL}}|Invoice/Credit Notes}}. | * Go to {{Menu|{{SL}}|Invoice/Credit Notes}}. | ||
* On the {{DataPrompt|Date :}} enter the date that you wish the debt to be written off on. | * On the {{DataPrompt|Date :}} enter the date that you wish the debt to be written off on. | ||
| − | * | + | * Set the {{DataPrompt|Invoice/Credit :}} to {{DataValue|C}}. |
| − | * On the {{DataPrompt|Account :}} set the {{DataValue|account}} to the customer who has '''"bad debt"'''. | + | * On the {{DataPrompt|Account :}} set the {{DataValue|account}} to the customer who has '''"bad debt"''', press {{KeyPress|Enter}}. |
| − | * On the {{DataPrompt | + | * On the {{DataPrompt|Sales Centre :}} enter the {{DataValue|Sales Centre}} for {{DataValue|Bad Debt}} and press {{KeyPress|Enter}}. |
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| − | |||
| + | {{Note|text=If you do not have a '''"Bad Debt"''' centre you will need to create one making sure that it is created as a {{DataValue|Profit & Loss - Overhead}}. ''(see article'' - [[How do I Create a Nominal Code?]]'')''}} | ||
| − | |||
| − | |||
| + | * On the {{DataPrompt|Analysis Codes|}} press {{KeyPress|Down Arrow (↓)}} key. | ||
| + | **This will load up a New Screen called '''"Document To Credit Selection"''' which will list the invoices that are outstanding on the account. | ||
| + | **Select the correct invoice you want to ''"write off"'' and click {{Button|OK}}, which will automatically fill in the {{DataPrompt|Document :}}. | ||
| + | * On the {{DataPrompt|Comment: }} type {{DataValue|Bad Debt}}, and press {{KeyPress|Enter}}. | ||
| + | *Click the {{Button|Invoice}} button at the bottom of the page or press {{KeyPress|F5}}. | ||
| + | * On the new screen underneath the '''"Product Description"'' enter a reason for the "Write off", then press {{KeyPress|Arrow key Right (→)}}. | ||
| + | * Below '''"Total Nett"''' enter the net amount of the invoice to be written off. | ||
| + | * Once happy click {{Button|Invoice}} or press {{KeyPress|F5}} which will show a summary of the credit. | ||
| + | * Click {{Button|Invoice}} or press {{KeyPress|F5}}, which will print out the credit note. | ||
| + | * Click {{Button|Accept}} and the Debt will be credited off. | ||
== See Also == | == See Also == | ||
Revision as of 15:44, 17 June 2011
 |
This article or section is under review. Be aware: Content may change as the document is reviewed. |
Summary
This article explains the process to follow when you have classed an invoice as being bad debt and wish to write it off.
 | Rememeber: To check the V.A.T. rate of the invoice Prior to posting. Make sure the Credit is posted the same. |
More Information
- Go to " Sales Ledger Invoice/Credit Notes".
- On the "Date :" enter the date that you wish the debt to be written off on.
- Set the "Invoice/Credit :" to 'C'.
- On the "Account :" set the 'account' to the customer who has "bad debt", press <Enter>.
- On the "Sales Centre :" enter the 'Sales Centre' for 'Bad Debt' and press <Enter>.
 | If you do not have a "Bad Debt" centre you will need to create one making sure that it is created as a 'Profit & Loss - Overhead'. (see article - How do I Create a Nominal Code?) |
- On the "Analysis Codes" press <Down Arrow (↓)> key.
- This will load up a New Screen called "Document To Credit Selection" which will list the invoices that are outstanding on the account.
- Select the correct invoice you want to "write off" and click [OK], which will automatically fill in the "Document :".
- On the "Comment: " type 'Bad Debt', and press <Enter>.
- Click the [Invoice] button at the bottom of the page or press <F5>.
- On the new screen underneath the '"Product Description" enter a reason for the "Write off", then press <Arrow key Right (→)>.
- Below "Total Nett" enter the net amount of the invoice to be written off.
- Once happy click [Invoice] or press <F5> which will show a summary of the credit.
- Click [Invoice] or press <F5>, which will print out the credit note.
- Click [Accept] and the Debt will be credited off.
See Also
- How do I Allocate a Payment to an Invoice?
- How do I call up the CRM?
- How do I print an Aged Debtor or Creditor List?
- How to process a month end
- How do I Create a Nominal Code?
- How do I Post a Journal with VAT Involved?
