QuickBooks Pro 2011 Mac free download
Is there anything worse than a customer who doesn’t pay you? OK, maybe a bounced check, but not getting paid at all is just so bad. Then you’ve got that invoice or statement just hanging around in QuickBooks. Well, I can’t get your customers to pay you, but I can tell you what to do when they don’t.
First of all, writing off bad debt doesn’t apply if you are using a cash method to track your business in QuickBooks. This is only applicable if you’re using invoices or statements to ask for payment from your customers when you’ve already done work or sent them goods. (This is called the accrual method of accounting.)
Before you write off the bad debt
Generally, you should write off bad debt only after exhaustive efforts to collect. If your customer owes you a lot of money, you should call the customer until you’re convinced the customer can’t or won’t pay. The rules change if customer files for bankruptcy. At this point the law provides a procedure for filing a claim for payment. Further efforts of collection may violate federal law. Check with an attorney if things get to this point.
When you’re ready, you can write off the debt in QuickBooks so you don’t keep seeing that open invoice or statement.
