There are a number of scenarios where it may be required to write off debt. This section contains links to the different ways you may do this.
In many of these methods, it will be required to "Code" an entry to pick up this write off in your Profit & Loss. Many companies may want to create an expense code to track these write off's; for example you may want to code a credit to "Bad Debts" rather the the originating Fees account.
Should you wish to set up new accounts to manage your write off process, please go to Chart of Accounts
While we do give different scenarios and options, we suggest you do select the method which works best for the outcome you require.
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See updated article in Actionstep Help Center: https://support.actionstep.com/hc/en-us/articles/360001692488-Write-offs |