It's great to have you here, creativebricks. Let me provide inputs on what you can do with your overdue invoices due to a business going bust in QuickBooks Online (QBO). I'll lay out more details below.
First off, could you clarify how your accountant wrote off the unpaid invoice? Did they use the QBO Accountant tools which automatically apply discounts to clear bad invoices and then move them to a write-off account? If yes, then you wouldn't need to take any further actions as QuickBooks balances both your Accounts Receivable and expense accounts automatically in such cases.
Refer to this article for more details about how QBOA writes off invoices: Write off invoices in QuickBooks Online Accountant.
On the other hand, you also have the option to manually write off your invoices. For step-by-step instructions on how to do this in QuickBooks Online (QBO), refer to this article: Write off bad debt in QuickBooks Online.
Please note that in your particular situation, it isn't advisable to void the transaction. Voiding the invoice would remove the record from your database, potentially complicating your ability to track historical data and impacting your financial reports.
Lastly, I'll provide these resources to help you keep track of your transactions inside your company in QBO:
If you have further questions about managing overdue invoices in QBO, please feel free to click the Reply button below. The Community team is readily available to assist you.
