A/R Receipt Write-Offs

Daily > Accounts Receivable Receipts > Write off A/R Receipts

Write-offs

When an outstanding receipt no longer applies to any customer invoice and needs to be pulled out of customer credit, a write-off is necessary to eliminate the receipt and credit the proper write-off account. 

Write-off A/R Receipt

Customer ID: To select the appropriate customer, type in the long field to the right of the magnifying glass or click the magnifying glass to select the customer from the list.

Write-off Period: This defines the fiscal period in which the write-off entry will be posted—both the elimination of the customer credit and the associated income/expense entry.

Write-off Date: This is an informational field for the entry's date—it defaults to today—but it will be irrelevant to the period in which the entry hits the financials.

Distribution Method: Choose between Entry allowing one or multiple receipts to be written off to the same Write-off account or Line item, allowing for separate/different Write-off accounts for each receipt line to be recorded.

Entry: The Write-off account can be chosen using the magnifying glass, and a Write-off comment can be written for the full transaction

Line Item: A separate/different write-off account can be chosen for each receipt to be written off, and a separate comment for each receipt write-off.

Open Receipt Balances: The check box allows you to choose each receipt to be written off. The amount will default to the full receipt amount but can be changed to a partial amount. The Select/Deselect All checkbox at the bottom allows you to choose all of the current customer’s receipts to be written off.

Write-off button: Once you’ve made all appropriate selections and amounts of receipts to write off, either by the Entry or Line Item method, click the Write-off button in the top left corner of the screen, and the system will record the Write-off entry.