reporting a loss

Forum|Forum|7 years ago
January 17, 2019
1 reply
2 views

We invoiced a customer for work done and they have refused to pay. The invoice has been voided but how do we report this as a loss?

QuickBooks Online

Anonymous

If you void then invoice then thats it - whatever expenses you incurred are already recorded and that is your cost (loss)

The (preferred) alternate is to leave the invoice alive and then create an offsetting credit to Bad Debts.

Rustler

Level 15

@197869 wrote:

If you void then invoice then thats it - whatever expenses you incurred are already recorded and that is your cost (loss)

The (preferred) alternate is to leave the invoice alive and then create an offsetting credit to Bad Debts.

True, unless inventory items were on the invoice, in that case voiding the invoice returns them to stock.

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