Hello,
The Quickbooks Online that I have now started to input data on has several old invoices outstanding.
I can only assume that the customer did not pay and they had not been chased. Some of these invoices go back a fair way. Year ends etc. have been completed by an accountant. The business is VAT registered.
The question is that if the business excepts that the invoice will not be paid should we:
- Leave it on the account
- Delete it
- Do a credit to be offset against it
How would this effect the business and the VAT element of doing these options?
Thank you
