How do I clear unpaid invoices?

Mike or Penny Novack mpnovack at mtdata.com
Sat Sep 3 18:04:45 EDT 2016


On 9/3/2016 12:04 AM, Kurt Padilla wrote:
> Since the club is essentially covering these unpaid memberships, isn't it
> better to capture that expense?
>
> Kurt
>
Because THESE (membership) invoices have resulted in A/R income that can 
be dealt with by a pseudo expense account with some name as "dropped 
dues". However I am surprised to hear that unposting an invoice doesn't 
eliminate the income in A/R. There be the need for something like that 
even in ordinary business << say the shipment never reaches the 
customer; and being a time sensitive item, they no longer want it, so 
you are trying to undo the sale >>

However, for pledges that go unfulfilled, you want a real expense 
account "unfulfilled pledges" because those were receivables in the 
legal sense.


Michael


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