Hello to all of my QuickBooks friends using QuickBooks to manage the financial records of a law firm. This QuickBooks online training tutorial will show you how to write off uncollectable clients account balances and uncollectable invoices that our law firm has sent out to clients. Attorneys have a choice of methods to write off insolvent client balances. This method makes an uncollectable item on the list of products and services so that you can make a credit memo with the item to wipe out the attorney’s client’s balance as well as record the bad debt expense uncured from a default of a client who can no longer pay. I hope you will click “like” on any video that helped you and I hope you will subscribe! -Mark
Hello sir can i pass journal entry Bad debt a/c dr To Debtors / AR Expense A/c. Dr To Bad debt A/c Is this entry is correct if yes than what will be the effect in report?
Hello to all of my QuickBooks friends using QuickBooks to manage the financial records of a law firm. This QuickBooks online training tutorial will show you how to write off uncollectable clients account balances and uncollectable invoices that our law firm has sent out to clients. Attorneys have a choice of methods to write off insolvent client balances. This method makes an uncollectable item on the list of products and services so that you can make a credit memo with the item to wipe out the attorney’s client’s balance as well as record the bad debt expense uncured from a default of a client who can no longer pay.
I hope you will click “like” on any video that helped you and I hope you will subscribe!
-Mark
Hello sir can i pass journal entry
Bad debt a/c dr
To Debtors / AR
Expense A/c. Dr
To Bad debt A/c
Is this entry is correct if yes than what will be the effect in report?
Yes as it shows