Write Off Part Of Invoice Question.

[Andrew Sackville-West]

eph man wrote:
> hello,
> 
> i've been trying to figure out how to write off part of an invoice.  a
> client has only paid 50% of it, and i'm wondering what do i do with
> the rest?  any advice would be great.

Send the knuckle-breakers to collect? ;).

Ummm, you could create another invoice and charge a negative amount to 
the same income account as the original invoice. This would reduce your 
income by the appropriate amount. BUt you may want to record the whole 
transaction as income in which case you need to charge it to an 
"Discounts" expense or "Lost Asset/Theft" or whatever expense. In that 
case, you could process a payment on the original invoice for the amount 
and charge it to some asset account like "Note Recievable". Don't use an 
actual A/R account for this as it would get really messy. So use some 
other asset account, charge the payment to that and then go into that 
asset account and enter an offsetting transaction to zero it out. You 
can charge that offsetting transaction to whatever account you desire.

IANAA, but hth.

Andrew
> 
> thank you,
> ephman
> 
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