How can you write off a bad debt using Reckon?
Are you looking pay off all your bad debts? If yes, then you must consider that the bad debt in the balance sheet includes the provision. For this, create a regular journal to credit the account and receivable account like that of the customer. Also, you need to debit all the provisions for the debts account that seem doubtful. For assistance regarding bad debts, contact the Reckon support and your queries will be answered instantly.
Follow the steps mentioned below to write off a bad debt using Reckon:
Step 1: Select new from the Accounts option and set up a bad debt expense
account.
Step 2: Tap the keys CTRL+1 to open the Accounts Chart or click the menu list for selecting the Accounts Chart.
Step 3: In the next step, you need to set service item with the bad debt account.
Step 4: Select the items option from new option appearing in the menu list.
Step 5: Now, leave the amount as 0 as this will create flexibility for choosing the amount.
Step 6: Select the Bad Debts account that you recently created.
Step 7: Next, you need to assume that there’s currently an invoice for debt settlement.
Step 8: After settling the debt amount, you need to make refund adjustments.
Step 9: Select the bad debts item and apply the same to the customer.
Step 10: Ensure the refund adjustment matches with invoice on the BAS. If you face any problem while following these steps, then dial Reckon customer care number.
Step 11: Now, you need to save and close the debt. Also, make a note that the customer will receive the outstanding credit.
Step 12: Select the receive payments directly from the Customers Navigator.
Step 13: Select the customer with the existing credit that applies to the awaited invoice payment.
Step 14: Select the invoice and click the option as Set Credits, and apply the credit amount and press ok.
Step 15: Ensure the payments receive screen includes all the info, payment amount and more.
If you would like to know more about how can you write off a bad debt using Reckon then dial Reckon Customer Care Number NZ +64-04-8879113
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