How to Write Off Bad Debts in QuickBooks?

Looking for the steps to write off bad debts in QuickBooks? If yes, then make sure to read this post till the end. When the user sends invoices in QuickBooks desktop become uncollectible, the user might have to record them as a bad debt and then write them off. This way, one can ensure that the accounts receivables and net income are updated. In case the user is making use of QuickBooks online, then this post would be of some help. Reading this post ahead, would brief you with the process to write off bad debts in QuickBooks online. Thus, make sure to continue reading or make a call to our QuickBooks professionals at +1-888-351-0999. Our team will ensure to provide you with immediate technical assistance.

Steps to write off bad debts in QuickBooks online

The user can write off bad debts in QuickBooks online as follows:

Step 1: Adding an expense account to track the bad debt

•    This can be done by moving to the lists menu and then opting for chart of accounts
•    After that, clicking on account menu and then picking new tab
•    The next step is to choose expense tab and hit continue
•    Followed by entering an account name
•    And lastly, selecting save and close
Step 2: Closing out the unpaid invoices

•    In this step, the user is supposed to move to the customers menu and then choose receive payments
•    After that, the user should enter the name of the customer in the received from field
•    Followed by, entering $0.00 for payment amount
•    The next step is to choose discounts and credits
•    And in the amount of discount field, the user needs to enter the amount you would like to write off
•    Moving ahead, the user is supposed to choose the account added in step 1 for discount account
•    And then select done
•    The last step is to select save and close

By the end of this post, we expect you to be well-versed with the steps to write off bad debts in QuickBooks. Whereas, if you need any sort of technical assistance or if you want our QuickBooks support pro team to answer any of your queries, then do not think much in dialing our toll-free number +1-888-351-0999. We are a team of technically sound QuickBooks professionals, who work round the clock to provide immediate technical assistance. Thus, do not hesitate in calling us anytime.