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QuickBooks Bad Debt Write Off

Write Off Bad Debt In QuickBooks Desktop

How To Write Off Bad Debt In QuickBooks

The bad debt in QuickBooks is the amount that is not paid yet or you know that you will not receive it ever. So you decided to write off this bad debt from your account. For this, you need to go to the account receivables to announce it as the bad debt and then write it off. To do this, below you get all the information that is directly given by the MyOnePro QuickBooks Support USA team who is here to help you out by providing you all the solutions for your issues.

Entering Or Recording Bad Debt QuickBooks Desktop

Writing Off Bad Debt In QuickBooks Step By Step

Follow Process Record Bad Debt in Accounts Receivable

  1. In the beginning, you have to check that if there is any bad debt or not
    1. Check all the invoices that are in the bad debt
    2. Then you have to select the Report menu
    3. Click on the Accounts Receivable Ageing Details report to open it
    4. Verify all the accounts that are shown as the outstanding
    5. Now do create the expense bad debt account by clicking on the settings
    6. Select the Chart of Accounts
  2. To create a new account click on the New option
    1. Then in account type click on Expenses
    2. In the Detail type option, select Bad debt
    3. Give the file name also as the Bad debt
    4. Now do Save it and then close it
    5. After this, Create the Bad debt in this account
    6. Click on the option named Product and Services
    7. Then go to the New option
    8. Then select the non-inventory
    9. Give its name as Bad debt and create it
    10. In income account options click on Bad debt
    11. Save this item in the account
  3. To create a credit note for this item
    1. Click on the Credit note or give credit from the new option
    2. You have to select the customer
    3. In the Service or Product section, click on the bad debt
    4. Type the write off amount
    5. Write the bad debt when a message is displayed to your screen
    6. Then Save it now
  4. In the customers, click on the option Receive Payment
    1. Select the customer to whom credit note needs to be applied
    2. From the option named Outstanding transaction
    3. Do click on Invoice
    4. Then select the credit notes
    5. Close it after saving
  5. You have to close the invoices that are unpaid
    1. In the menu named Customers
    2. Select the option from drop-down list Receive Payments
    3. In the Received from option, enter customers name
    4. Write the amount as 00
    5. After this, select the option Discounts and Credit
    6. Now mention the amount to be write-off as bad debt
    7. Select the correct account
    8. In the end, do Save and then close it.

Also get complete information Why Is Accounts Receivable Negative In QuickBooks and what you can do to resolve issue .

Help For Bad Debt in QuickBooks Pro,Primer & Enterprise

The above is the solution that you have to follow accordingly to get it resolved. The QuickBooks Support 24/7 hours to help you whenever required. You just need to dial the MyOnePro number +1800.301.4813 that is toll-free. The members of the team are well-experienced to fix all the glitches that you face in your account. The team is happy to serve you with the best solutions ever. You can also connect with them via live chat or send an email at MyOnePro QuickBooks Technical team.

2 thoughts on “QuickBooks Bad Debt Write Off”

  1. When writing of an invoice, using QB desktop, if I o to customer, receive payment, keep the payment amount at $0.00, than select Discounts and credits and select done. Do I also need to do a general journal entry? , I think 2020 QB I am using

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