Hi list,
Looking for some advice in recording (writing off) some bad debts in
GnuCash when using the Business Invoice/Bills feature.
Example:
Have Client Bob who owes (has been send and Invoice) for $1000.
Bob are disputing the full amount and have only paid $700.
In GnuCash I open the Invoice and record a payment of $700. This leaves
Bob owing $300.
I can record a $300 amount going into Expenses -> Bad Debts, from the
Accounts Receivable going directly via the Account page.
I think that this then effectively wipes out the debt. (This may be
completely wrong)
My issue is Bob still shows as owing $300. I, maybe incorrectly,
assumed it would effectively show as Bob owes nothing as we have
forgiven the amount owed.
What step am I missing?
Can it be done through the Invoice screen to essentially "pay" the
invoice? The Payment side of the Invoice only seems to show "Assets"
accounts (as expected).
Regards,
Jeff.
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