Writeoffs

Use this option to write off all or part of the receivable balance of a particular transaction.

1. Click the Clients & Files button.
2. Select the Entity for which to perform a >writeoff from the dropdown menu.
   • 1. Select the appropriate customer in the list.
     2. Click the Invoices button.
     3. Click the Options button on the Transaction List window.
     4. From the Options menu, select Workflows > Transactions > Writeoffs.
   • 1. Select the appropriate broker in the list.
     2. Click the Options button on the Broker List.
     3. From the Options menu, select Journal Entry > Writeoffs.
   • Finance Companies
   • 1. Select the appropriate finance company in the list.
     2. Click the Options button on the Finance Company List.
     3. From the Options menu, select Journal Entry > Writeoffs.
   • Lienholders
   • 1. Select the appropriate lienholder in the list.
     2. Click the Options button on the Lienholder List.
     3. From the Options menu, select Journal Entry > Writeoffs.

A list of transactions displays in the middle of the window. The transaction detail for the highlighted transaction displays at the top.

3. Select a transaction to write off all or part of a balance.
4. Click the Bad Debt Expense, Waive Small Balance, or Reverse Late Charge radio button to select the type of writeoff transaction.
5. Enter the amount to write off. The full amount of the transaction defaults, unless the transaction amount exceeds the writeoff limit (in which case the writeoff limit defaults). Revise it if necessary.
6. Click OK.
7. A window displays to confirm the writeoff. Click OK to return to the Transaction List.

Related Topics:

Transaction List Writeoff Maximums