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July 27, 2021
Question

How can I write off goods that have been lost/damaged/stolen in transit?

  • July 27, 2021
  • 1 reply
  • 1 view
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1 reply

QuickBooks Team
July 27, 2021

Hello there, @mail37.

 

Let me share information with you on how to write off bad debt in QuickBooks Online (QBO).

 

You may want to record a bad debt expense when a receivable is no longer collectable.

 

Here's how:

  1. Check your ageing accounts receivable.
  2. Create a bad debt expense account.
  3. Create a bad debt item.
  4. Create a credit note for the bad debt.
  5. Apply the credit note to the invoice to close it off.
  6. Run a bad debts report.

For more detailed information about this process, see this article: Write off bad debt in QuickBooks Online.

 

Keep in touch if you need help with QuickBooks. I’m more than happy to assist further. Wishing your business continued success.