718
Summary of instructions: To remove the amounts from the Accounts Receivable GL and increase the Bad Debt expense GL
[F12] Crediting Customers
Leave the Check#/Memo/CC field blank, verify the date, enter or Tab through the other dollar fields down to the Warranty Credit = Type the dollar amount of the bad debt on the particular customers account as a positive amount (minus the sales tax), select [OK]
Mark the Charge(s) to be written off to Bad Debt as paid by pressing Y to pay each one
[F8] to process once the amount is used up
verify the writtenby, print a receipt, if using EDM select print and view the record so the document can be saved
on the next prompt it asks for an Offset Credit memo and GL = enter the Original sale number and a basic note like W19166 DISPUTE or W19166 CHPT11 and set the GL to the Bad Debt Expense General Ledger Account Number 735
http://help.pluss.co/HELP/PTM%20Vision%20Help/default.aspx?pageid=Welcome#pageid=bad_debt_write_off
In most states the amount of Sales Tax (PST for Canada) can be written off and reduced on your current month's tax liability report.
follow the process for issuing a Tax Refund to keep your Sales Tax Reports accurate with the taxable amounts, the amount collected and the General Ledger totals - make sure you note the fact that this was due to Bad Debt Write off and reference the original invoice(s)
NOTE: this same process and tools are also used to write off internal tickets such as Shop Supplies or Internal Expenses
