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paulaharper
Level 2

Write off small supplier balances

Hi

How do I write off a supplier small balance please?  Using QB online Plus

Thanks.

3 REPLIES 3
EmmaM
QuickBooks Team

Write off small supplier balances

Hello Paula

 

To help us answer this in the most accurate way for the situation,what is the reason for the write off?Have they issued you a credit note/refund or is it the case it is something you will not be paying?

 

You can either

 

Create a credit note and use that to pay of f the bill for that amount

 

or

 

create a journal entry and use to 'pay off' the supplier balance using the creditors and supplier name on the 1st line,the 2nd line would be the account you are putting the write off to. Do you have a bad debt account set up for your debtors? Are you wanting this to show on your balance sheet?

 

It all depends on how you want it to show,apologies for the questions but we can only give general advice as we are not accountants

 

 

Emma

paulaharper
Level 2

Write off small supplier balances

Hello - we made a 60p underpayment in error.  The supplier has written this off and it is not showing as outstanding to them on the monthly statement from them, so I just need to get rid of it off our system

Thanks

GeorgiaC
QuickBooks Team

Write off small supplier balances

Hi Paula, 

 

You can simply edit the original bill and payment to the amount paid to correct, or create a supplier credit to the category used on the bill for the amount of 60p and apply this to the bill payment. 

 

Thanks 

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