Write off uncollectible accounts receivable

Written by Irene Nuijten on . Posted in Exact Globe

In some cases it can happen that an outstanding item cannot be collected anymore or does not need to be paid anymore. In Exact Globe Next these outstanding items can easily be written off to a profit or loss account. You can write the debtor or creditor’s outstanding item off via menu [Finance, Accounts receivable, Cards] or [Finance, Accounts payable, Cards] and to use the button ‘Match’. In the screen that appears next, the payments are shown on the left and the outstanding invoices on the right. Select the invoice for which no payment or credit note exists on the right. Press the button ‘Match/Process’. The next screen appears:

In this screen you can determine what to do with the outstanding invoice.

–          Balance/ Compress: here two or more invoices can be compressed to one invoice
–          Payment difference:  here the payment different will be booked at the payment differences account
–          Discounts: here the invoice’s discount will be booked at a discount account
–          Discounts (Including: Tax): here the discount including Tax can be written off
–          Other: here you can select any general ledger account to write off the irrecoverable invoice


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