Story cover for How to write off bad debt in QuickBooks desktop? +1-888-412-7852 by Robertd994
How to write off bad debt in QuickBooks desktop? +1-888-412-7852
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Ongoing, First published May 21, 2020
Indeed, QuickBooks is an accounting software that handles the financial activities of your business. Besides, the accounting software gives you the permission to record and write off bad debt. So before knowing how to write off bad debt in QuickBooks desktop, you need to understand what is bad debt in QuickBooks. 
Bad debt is an amount that a company or a business fails to recover from the debtor. It occurs when the borrower becomes bankrupt and he/she is unable to the pay on time. Most importantly, bad debt affects the profit and loss reports during the time of reconciling the accounts. 
Note: If invoices you send in QB become uncollectable, then you need to add it as a bad debt. It makes sure your accounts receivable and net income stays up-to-date. 
Let's find out the benefits to write off and then move ahead for the steps to write off bad debt in QB. 
Steps to Write off QuickBooks bad debt
Follow the given steps to write off bad debt in QuickBooks desktop:
Add an expense account to track the bad debt
1.	First, go to the lists menu and then you have to click chart of accounts.
2.	Now, you need to click on the account menu. With this, click on new.
3.	Next, you have to click on expenses and then continue.
4.	You have to add an account name.
5.	Lastly, you need to click on save and then close.
Close the unpaid invoices
1.	Initially, you need to click on receive payments.
2.	Now, you have to add the name of the customer.
3.	You need to add $0.00 for payment amount.
4.	Next, you need to click on discounts and then credits.
5.	Add the amount that you have to write off.
6.	Click on the account that you have added in step 1. Click on done.
7.	Finally, you need to click on save and then close.
Conclusion
If you want to get additional information related to write off bad debt in QuickBooks desktop , then dial the QuickBooks Toll- Free Support Phone Number 1-888-412-7852.
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|| HIGHEST RANKS: #13 in HUMOR #79 in TEEN FICTION || If you are going to be BAD, then you have to do it the BAD way... It's pretty simple: 1) Don't get caught 2) Always have a Plan B 3) If all else fails... Run...Run for your life! Everyone has a bad side. Some try to deny it's existence, some hide it and others well...they rule the world with it. In the book of being BAD there are ninety-nine formulas for world domination... Number one: You aren't BAD until you can walk around the school dressed in all pink and have everyone afraid to approach you. Number two: You aren't BAD until you can break into a certain bad boys house and well... do the wrong kinds of stuff. Number three: You aren't bad until quite frankly, you have declared vengeance against the bad boy. ~*~ "I heard you like bad boys," Blade says with a vivid smirk on his face. I glared up at him, without responding clenching my fists fighting the urge to punch him in the face. "So...?" He says after a couple seconds of silence. "So what?" "So what do you think...Tinker Bell?" He says emphasing on the stupid name. His face moved closer to mine and I stared back into his green eyes, watching the fire inside ignite. I smirked, "Then find me one." Blade grins at my witty retort and shrugs it off. "I look at you and I see cotton candy, but then you open your mouth... and suddenly you turn into licorice," he scoffs. "Welcome to the game bitch, your move, now let's play." ~*~ When two very unlikely paths cross, it turns into chaos, vengeance and the ultimate revenge schemes. Has Blade Collins finally met his match? Or has he met the devil himself in the form of a high school girl? One, who he didn't even know existed only twenty minutes ago. But now he does, and what's left to do... but finish the war that has started.