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Write-Offs

Overview

A write-off is the elimination of uncollectible debt from one of your customers. Write-offs are performed when collection efforts have been exhausted and no further attempts will be made to settle the outstanding receivable.

If a customer fails to make a payment on an invoice, and you believe that the payment will not be received, you can create a write-off, which reduces the previously recorded amount of the asset. Write-offs are often performed in conjunction with, or after, dunning as part of the collections process, and only the full unpaid balance may be written off.

High-Level Bad Debt Management by Receivables Department


Creating a Write-Off

Getting Here: Click Accounts > search for an account > Payments & Credits > Write-Offs/Dispute Holds

  1. Click Create a New Write-off.

  1. Select an invoice for which you would like to write-off all, or part, of the unpaid balance.

A specific write-off screen for that invoice displays.

  1. Enter an amount to write-off in the Write-Off Amount field.

Note: This amount cannot exceed the total amount of the invoice. The total amount of the invoice is displayed at the top of the screen.

If the write-off is for a child account, the amount of the write-off is set to equal the invoice amount for that account and cannot be modified. If the parent has paid any amount on the balance transfer from a child invoice, the child invoice cannot be written off. You cannot partially write off a child account.

  1. Select a reason for the write-off from the Write-Off Reason drop-down.

Note: The write-off reasons that are listed in this drop-down cannot be customized.

  1. Enter any additional information detailing the write-off in the CSR Comments field.

Note: Any notes entered in the CSR Comments field will not display for clients.

 
  1. Click Create Write-Off.

A confirmation screen, with the write-off details, displays.

  1. Confirm the accuracy of the write-off, then click Create Write-off again to finalize the process.

A confirmation displays and the write-off is recorded in the list of write-offs against the account.

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Last modified
10:12, 18 May 2016

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