Writing off old credits

MM_7769277 Member Posts: 115
edited April 2020 in Accounts Hosted
Hi again!

We seem to have quite a few suppliers with old old old (like, 2-3 years old) credits on their accounts. They range from 0.01 to $5.00. Mainly from overpayments with one or two unused credit notes.

What is the best way to write these off so as to leave a proper audit trail?

Thanks in advance!


  • Kwikbooks (Professional Partner)
    Kwikbooks (Professional Partner) Member Posts: 823 ✭✭✭
    edited April 2020
    for small amounts you can simply go to the invoice and add a 'rounding' line and put the cents & $5 to rounding adjustments.

    For anything more than $10 I would create an invoice and the description would read "write off credit on customer account' - this would create a trail for future ref if they later wanted the credit.