How do I deal with a Bad Debt?
Article ID
ias-1350
Article Name
How do I deal with a Bad Debt?
Created Date
2nd March 2004
Product
IRIS Time and Fees
Problem
How do I deal with a Bad Debt? The situation where an invoice has been issued and it is decided that the invoice will not be recouped.
Resolution
The most effective posting is a Fees Write Off. This can be posted through Posting | Ad-hoc posting or as part of a batch.
The details entered against a write off include; client id, posting date, reference(s), amount (to be written off), cross reference and narrative.
There is also the option to decrease your VAT liability with the posting and this can be split across multiple VAT rates if needed.
To post a Fees write off:
- From the IRIS Main Menu click on IRIS Fees
- Click Posting | Ad-hoc posting
- If prompted, select a period and click OK
- Select ‘Write off’ and fill out the necessary details
- Click Post.
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