Forum Discussion

DFrost1's avatar
DFrost1
5 months ago

Process a payment received for a written off bad debt

Hi,
 
We have just received payment for a bad debt we wrote off as we didn't think we would receive payment for the invoice. The bad debt was written off a few months ago, so it is now from a closed period.
 
What is the best way to record this payment and reflect that the amount is no longer a bad debt? We don't have reverse transactions turned on. 

  • Genreve_S's avatar
    Genreve_S
    MYOB Moderator
    5 months ago

    Hi DFrost1

     

    I understand we're making sure those bad debts get sorted in your ledger. For help recording them, take a look at this article 'Writing Off Bad Debts'—it breaks down the steps nicely.

     

    If you've got any other questions, just give us a shout!

     

    Thanks,
    Genreve

  • DuncanS's avatar
    DuncanS
    Ultimate Partner
    4 months ago

    @ DFrost1

     

    I would raise a Tax Invoice in the current Period (being in the same FY as the write off) and apply the Payment.

     

    Duncan

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