[AuRavelling79]

Looking back through my debt list I have about 8 old debts from people who have died, moved or I've recorded wrong from 2014.

I want to "write them off" the system. How do I do this and how will it effect my turnover figures?

[Roy Harding]

Go To the dept screen, the double click. the payment box opens. Then enter paid amount to zero and the box below becomes avalible to write off depts, enter the amount and it takes there account to a zero balance.

[AuRavelling79]

Go To the dept screen, the double click. the payment box opens. Then enter paid amount to zero and the box below becomes avaliable to write off depts, enter the amount and it takes there account to a zero balance.

Thanks Roy, do you know if it affects the balances for the current year?

[Roy Harding]

That I do not know. 

[Spruce]

Go To the dept screen, the double click. the payment box opens. Then enter paid amount to zero and the box below becomes avaliable to write off depts, enter the amount and it takes there account to a zero balance.

Thanks Roy, do you know if it affects the balances for the current year?

Under reports it comes up as separate column. Jobs done, payments received, written off and tips.

It can't affect the jobs done amount as you have done the job. It can't affect the payments received as you weren't paid for it, and of course you didn't get a tip.

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[AuRavelling79]

Go To the dept screen, the double click. the payment box opens. Then enter paid amount to zero and the box below becomes avaliable to write off depts, enter the amount and it takes there account to a zero balance.

Thanks Roy, do you know if it affects the balances for the current year?

Under reports it comes up as separate column. Jobs done, payments received, written off and tips.

It can't affect the jobs done amount as you have done the job. It can't affect the payments received as you weren't paid for it, and of course you didn't get a tip.

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Thanks Spruce - so I guess that turnover is the same but the "money owed" reduces because according to George I've given up the hope of getting it.

So my income should have gone down proportionately.

[Spruce]

Go To the dept screen, the double click. the payment box opens. Then enter paid amount to zero and the box below becomes avaliable to write off depts, enter the amount and it takes there account to a zero balance.

Thanks Roy, do you know if it affects the balances for the current year?

Under reports it comes up as separate column. Jobs done, payments received, written off and tips.

It can't affect the jobs done amount as you have done the job. It can't affect the payments received as you weren't paid for it, and of course you didn't get a tip.

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Thanks Spruce - so I guess that turnover is the same but the "money owed" reduces because according to George I've given up the hope of getting it.

So my income should have gone down proportionately.

The "money owed" reduces. Yes as it removes it from the debt list.

So my income should have gone down proportionately.  No. Even although you did the work you never got paid for it. Income is only income when you have been paid for the job and you have the money to spend/save etc.

George is an accounting program. Bookkeeping consist of debits and credits. If you remove money or debit it from one side, the debt list in your case,  then you have to credit it to somewhere else, the written off account in your case.

In accounts terms that written off debt will always be there. Its just that you have found a place to store it and report it for taxation purposes that tax year.
So if you did 3 jobs in a year but only got paid for 2 of them, your total earnings would only be the 2 jobs you were paid for. The amount written off and the 2 you were paid for would total the same as your total jobs done amount - that would 'balance'.

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[Spruce]

Update on this;

I wrote off a bad debt in George the other day Malc.

It removes it from your debt list, reduces your outstanding debt by that amount and transfers it onto your expenses list as its a cost to your business.

That was easy to spot as I don't use the expenses list. (In the early days the expenses list was a later addition which we didn't have initially. So I have always done my expenses on a spreed sheet.)

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