Why bad debts happen to good businesses
- Poor cash flow
- Market downturns
- Lost leases
- Personal/health issues
- Unforeseen events
Turn a bad debt into a business expense
There are two ways to write off bad debt. Choose the one that works best for your business:
- If you are on the accrual basis, create a credit memo using a service item that you link to a bad debt expense account.
- Have your accountant write off multiple invoices quickly using the “write off invoices” tool (exclusively available in QuickBooks Online Accountant).
Manage accounts anywhere. Get more done everywhere.
Manage bad debts—or any billing, invoicing or expense tracking—on the go, on any device. All your records will be right where you need them. Because QuickBooks syncs it all instantly on your phone, tablet and computer.
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