How to Write Off a Bad Debt in QuickBooks?

Bad debt in QuickBooks

Learn what to do if you can’t collect money from a customer and need to write it off as bad debt in QuickBooks Desktop.

When invoices you ship in QuickBooks Desktop end up collectible, you want to record them as a bad debt and write them off. This guarantees your money owed receivable and internet income stay up-to-date. If you’re the usage of QuickBooks Online, here’s how to write off bad debt in QuickBooks desktop.

Tip: Stay on top of your customers’ open balances with the Accounts Receivable Aging Detail report.

Fellow the Steps to Write off Bad Debt:

Step 1: Add an expense account to track the bad debt-

  1. Go to the Lists menu and pick out Chart of Accounts.
  2. Select the Account menu and then New.
  3. Select Expense, then Continue.
  4. Enter an Account Name, for example, Bad Debt.
  5. Select Save and Close.

Step 2: Close out the unpaid invoices-

  1. Go to the Customers menu and choose Receive Payments.
  2. Enter the name of the customer within the Received from field.
  3. For Payment amount, enter $0.00.
  4. Select Discounts and credits.
  5. In the Amount of Discount field, enter the amount you need to jot down off.
  6. For Discount Account, select the account you added in step 1, and select Done.
  7. Select Save and Close.

Our Support:

Hopefully, this blog has assisted you to learn about write it off as bad debt in QuickBooks Desktop – overview, steps to write off bad debt in QuickBooks. In case you stuck in any of the above-given steps or QuickBooks error don’t hesitate to call QuickBooks technical support number at 1-800-910-4754. The team is present 24/7 available to address all your queries. The team members are professionals to resolve the issue in a single call. There is another method of an email to connect the team. However, you can do a QuickBooks live chat for an instant reply.

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