Looking for the process to write off bad debts in QuickBooks? The search ends here. In this post, we will be talking about the complete set of steps to write off bad debts in QuickBooks. When the amount that you were supposed to receive is failed to be paid by the customer, it becomes a bad debt. And it is very much essential to write off bad debts, so as to track the profits and the average turnover. The process to write off bad debts in QuickBooks involves a couple of steps, which we have tried to mention later in this post. Thus, make sure to read the post till the end. Or the user can get in touch with our team professionals at +1-888-351-0999.
Steps to write off bad debts in QuickBooks
The user can try performing the below steps write off bad debts in QuickBooks.
- The very first step is to create Bad Debt Account
- This can be done by clicking the company menu and then choose chart of accounts
- After that select account tab and hit next
- The user should then choose expense account and click on continue
- Once done with that click on the number text field and enter the account number
- Choose account name field and type bad debts
- Hit ok tab
- The user should then record the bad debt
- This can be done by clicking on customers menu and selecting receive payments
- The next step is to select the customer with the bad debt from the customer list
- The user should then choose the line item that relates to the bad debts
- After that click on discounts tab and credits
- Choose the amount of discount and enter the total for the bad debt
- The user should then click on done
- And hit save and close tab
At the end of this post, it is believed that the user might be able to write off the bad debts in QuickBooks successfully. But if for some reason the user isn’t able to, then getting in touch with our QuickBooks support team at +1-888-351-0999 is recommended. We are a team of technically sound professionals, who can help you with fixing the issue immediately.