We file our S corp on a cash basis for taxes. How do I write off a receivable (invoice) without it affecting income? Some of the invoices are partially paid and some are unpaid. We don't want to just delete the invoice.
See this blog http://quickbooksarwriteoff.blogspot.com/ for procedure of writing off invoice.
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Julia have a question, an other charge posts a credit entry, a credit to an expense account is the same as posting to income.
What am I missing?
Use a Credit Memo with today's date for the items that you want to write off of the invoice & apply it towards the invoice. You can make notes on the CM that will note who decided to issue this credit to clean up your accounts. I also copy & paste or manually type in all of the collection calls & results & dates. This method provides the best tracking for your book keeper.
