Write off unpaid invoices

When a client has gone out of business and will not be paying an invoice in full, then write-off the unpaid invoice value.

Problem

A client has an outstanding invoice and has gone out of business. We will receive a component of the outstanding invoice amount. What do we do with the remainder of the unpaid invoice?

Solution

Enter any payments that will be received for the invoice. If this is done in your accounting package, use Connect to sync the invoice payment to Synergy first. Or, if not using Connect, then enter the payment value into Synergy manually. Next, write-off the outstanding invoice value that will not be paid. The write-off process will create a credit note for the outstanding balance, removing the outstanding balance from aged debtor reports.

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