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- Setting Sales and Customers Preferences
- Creating an Invoice
- Previewing Invoices
- Printing a Single Invoice
- Printing a Batch of Invoices
- Emailing an Invoice
- Charging Expenses to a Customer
- Setting Finance Charge Preferences
- Creating a Monthly Statement
- Setting Send Forms Preferences
- Tracking Accounts Receivable
- Receiving Payments for Invoices
- Issuing a Credit or Refund
- Receiving Cash
- Making Bank Deposits
- Receiving Advances, Retainers, and Down Payments
- Issuing Discounts
- Viewing the Open Invoices Report
- Creating a Collection Letter
- Recording Bad Debts
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This chapter is from the book
This chapter is from the book
This chapter is from the book
This chapter is from the book
Recording Bad Debts
If your company keeps records on an accrual basis, you’ve already recorded income when a job is completed and invoiced, even though you haven’t yet received the payment from your customer. So when you discover that the customer isn’t going to pay, you need to offset the income you recorded with a bad debt expense.
Select Customers, Receive Payments, or click the Receive Payments icon on the QuickBooks Home page.
Enter the name of the customer and job, if applicable, for whom you will record a bad debt.
Leave the amount set to zero.
Click to place a checkmark to the left of an uncollectible invoice.
Click OK in the warning box.
Click the Discounts & Credits button.
Enter as a discount the amount of the uncollectible debt.
If necessary, change the discount account field to reflect the account where you record bad debt expenses.
Click the Done button.
Save the Receive Payments window.
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