Write Off Part Of Invoice Question.

[Andrew Sackville-West]

Happy to help.

In the future, please post all responses to gnucash-user list so that 
others may bask in the glory of my insightful responses ;)

A

eph man wrote:
> thank you i took your second piece of advice, and it worked great!!!
> 
> thanks,
> eph
> 
> 
> On 11/3/05, Andrew Sackville-West <andrew at farwestbilliards.com> wrote:
> 
>>
>>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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>>>
>>
>