@kris MasciantonioThe GP Sales module has some great tools for writing bad debt off, but it would be up to your company what to write off and when.
There are two places to do write-off's in GP (NOT including a credit memo to write off)
During the application of a payment you can be in "Apply Sales Document" and enter how much of the payment you are applying and then fill in the write-off area with the amount you want to write off.
This is the best way to write off a specific document
Next is the routine to write off it is under Routines in the Sales Module in GP (If you can't see it then you don't have security to it). Here you can write off both UNDER payments and OVERPAYMENTS from all of your customers at once or one at a time. This is usually for those pesky instances where there may be rounding issues or your clients just over or underpaid by a few cents or small amounts, however, you can write off in large amounts here for one client at a time.
You'll note you can choose to preview what is about to be written off before you actually run the process.
Now let's talk about what account these write-offs get posted to. That depends on a few settings:
At the COMPANY Level (Administration>Setup>Company>Posting Accounts you can code in the default GL account number to be used.
HOWEVER, you can code the customer individually AND THIS WILL OVERRIDE THE COMPANY-WIDE setting:
When you use the write off functionality in GP this is where it pulls what accounts to hit, but if you don't have it setup at the customer level then you will need to set it up at the company-level posting.
ALSO of note is that you can choose a different account to write off OVERPAYMENTS to.
Best of luck!
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Jo deRuiter
🌟 GPUG AllStar 2019
💫Granite Award Winner 2018,2019
Atlanta Chapter Leader
Credential Council Co-Chair
Aisling Dynamics Consulting, LLC
ERP Practice Manager
jo.deruiter@aislingdynamics.com9518674366
Alpharetta, GA
aislingdynamics.com
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Original Message:
Sent: Feb 10, 2021 05:35 PM
From: kris Masciantonio
Subject: Bad Debt Write Off in GP
What are the best practices for bad debt write off in GP? Are there any third party add ons to assist in monitoring/tracking the write offs by account?
Thanks in advance.
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kris Masciantonio
New Carbon Company
glen mills
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