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Take note of the amount you need to write off and what date and period you are writing it off in.
Then from the EXO menu drill down to the ‘Debtor Adjustment’ Function
The ‘Debtor Adjustment Entry’ window will open.
It will automatically default to the ‘Cash Sale’ account.
In the ‘Account Details’ field, enter the required Debtor.
In our example account we have used Jame Barry. James’s account needs the balance written off for the month ending September 2010.
Fill in the required details.
Make sure that for accounts that are in Debit you put a ‘-‘symbol in front of the amount. The ‘Type’ in this case is ‘Write Off’.
For the ‘GST Rate’, enter the rate that the original transactions were created at, which in this example is 12.5%.
If you have transactions at different GST rates then the Debtors Adjustment process needs to be conducted separately for each different rate.
‘GL Code’ – needs to be coded to your relevant Bad Debts account.
Once you are happy click ‘OK’.
The system will ask you to allocate your adjustment against the invoices that you are writing off.
We suggest that you also place the account on “Stop Credit” and enter a note explaining why on the “Notes” tab. (Refer to our previous tips of the week “Inactive Accounts and Debtor Stop Credit” and “Debtor Notes”).
For any further questions or queries please contact our support team 03-211-3535.
© Focus Technology Group NZ Limited 2013 These tips have been compiled by Focus Technology Group and may not be reproduced without our express permission.
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