How to write off bad debt in QuickBooks?

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How to write off bad debt in QuickBooks?

Сообщение Robertm94 » 14 май 2020, 11:34

Bad debt is the amount when a company or a money lender is not able to collect debt from the debtor. Reason being, the debtor goes bankrupt or due to some personal issues. You need to add the bad debt in profit and loss reports so that there is no discrepancy left during reconciling the accounts. To know how to write off bad debt in QuickBooks in QuickBooks Desktop, you need to follow these steps:
Steps to add an expense account to track the bad debt
1.Firstly, you need to go to the lists menu and then click chart of accounts.
2.Secondly, you have to click on the account menu and then new.
3.Thirdly, click on expenses and then continue.
4.You need to add an account name.
5.Finally, click on save and then close.
Steps to close out the unpaid invoices
1.First, click on receive payments by going to the customers menu.
2.You need to add the name of the customer.
3.You have to add $0.00 for the payment amount.
4.Now, you need to click on discounts and then credits.
5.You have to add the amount that you want to write off.
6.Thereafter, you need to click on the account you added in step 1. With this, click on done.
7.Lastly, click on save and then close.

If you still have any query related to QuickBooks write off bad debt or QuickBooks bad debt, then dial the QuickBooks Toll- Free Support Phone Number 1-888-412-7852.

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