I have searched this topic and I have attempted to follow the guidance. However, none of the answers relate to my QB version because I do not have the same tabs/radio buttons/etc as those in the answers.
So does anyone know the process for recording bad debt who has the MAC desktop 2016 version?
Thanks for trusting your concern with us. I can help outline the steps for writing off bad debt.
There are times when an invoice becomes non-collectible and you need to write it off and declare it as bad debt so you can clear the invoice out of your accounts receivable and reduce your net profit by its amount.
When you’re ready, you can write off the debt in QuickBooks so you don’t keep seeing that open invoice or statement. First, create an account for Bad Debt in Chart of Accounts and be sure to select Expense as the account type.
Then, follow the detailed steps below in writing off bad debt for an invoice:
Go to the Customers tab.
Select Receive payments.
Select the name of the customer who hasn’t paid you.
Leave the amount field at 0.00.
If you like, enter a memo at the bottom of the window that you’re writing off a bad debt. The memo appears in the customer’s register and prints on statements.
Click the Payment column for the invoice that hasn’t been paid.
Click the Discount Info button.
In the window that drops down, enter the amount of the bad debt in the Discount field and the name of your bad debt expense account in the Discount Account field.
Click OK to record the bad debt.
That's it! This information should help you write off the bad debt. Let me know how things go and if you have other question by leaving a reply on this thread. I'll be happy to answer. Have a great rest of your day!
I have information to add on how to verify the transaction is recorded.
Now all your bad debts are associated with the Bad Debt account. You can use reports and the Account filter to see the transactions associated with that account. Or you can go to your Chart of Accounts and open the register for the Bad Debt account to see transactions associated with that account.
On the other hand, the Bad Debt account should be on the P&L report but this doesn't show on the Balance Sheet since it's an expense account. Please check if you have use the Bad Debt account on the Discount Account field and make sure to set the correct date range when pulling the report.
That should do it! Keep me posted on this, and I'll be right here if you need anything else. Wishing you and your business continued success.